Will iPhone or Gold Help the Growth of Residential Properties in Lucknow

The real estate market in India is changing and is helping a new trend to grow – while builders are offering discounts and freebies, customers are trying to explore the market through professional property consultants and online mediums. A few years back, when realty sector in India was in its flourishing state, property developers used to find it hard to address all the customer queries in their offices. Today, the overall scenario has changed where builders are running after buyers to sell their properties.

The situation is no different in Lucknow where real estate firms are offering huge discounts and expensive gifts such as gold, bikes, cars or iPhone to lure the buyers. Yet customers are not keen in investing money in the properties as much as builders require. This trend would continue if adequate measures and policies are not implemented. Even if policies and reforms are initiated, it would take years to transform Lucknow real estate.

How to Breathe Life into the Real Estate Market?

The government must come up with developing strategies and programs to encourage customers to invest more. Reducing the home loan interest rates, keeping a check on unrealistic advertisements of builders and setting up a unified body which can stop irrelevant spending are some of the steps that must be taken by the government. Some of these measures have already been enforced and because of increased builder liability and reduced consumer liability, a growth in investment can be seen towards residential properties in Lucknow. However, only government assistance is not enough as developers need to interpret buying patterns of the customers and offer irresistible buying baits.

Will Buying Baits Help the Growth of Real Estate Projects in Lucknow?

Nowadays, people have become intelligent and more informed mainly because of free access to information, which has been possible with the help of internet. Customers are doing thorough researches on various property websites and making their calculations accordingly before investing their money in an upcoming or new residential property in Lucknow. If they think that a property at a specific location would not give near-term returns, they are certainly not asking for freebies or price reduction, let alone purchase.

However, some customers are asking for better gifts and promotions for the property that does not even calls for a gift, while some buyers prefer to ask for the time. Hence, the trend of clearing the backlog of properties with offers and discounts is not helping too much; nonetheless it has definitely improved customer inquiries.

What’s the Problem?

Today, people need a house to live and they really want to buy property in Lucknow City in the hope to gain high returns in the future but real estate developers in Lucknow should offer pricing plans that match the financial budget of the customers. Developers should sell the unsold apartments before constructing the new ones. Moreover, trust and reliability factors are very important. Builders should come up with apartments that are constructed properly and must complete the project within the stipulated timeframe. This way, real estate builders in Lucknow will be able to bridge the gap between them and buyers, which in turn, would bring much needed transparency and reliability in real estate business.

Nevertheless, blaming real estate companies along is not good. Customers have become choosier; they first want to compare and assess a range of properties and then move further to buy an apartment in a new or upcoming housing property in Lucknow. So, the entire process takes a lot of time, thus adding up the property backlog.

The realty sector in the City of Nawabs is evolving and is helping disseminate new trends. Real estate companies in Lucknow are working on latest technologies and methods, which can enhance their housing projects, while consumers are exploring new ways to gather more information and facts about the various residential real estate projects in Lucknow. These patterns of customer preferences and developer challenges are evolving and are helping the real estate industry to grow.

About the Author: Rajeev is sales and marketing consultant at Azea Botanica, an upcoming residential property in Lucknow being developed by Azeagaia Development Pvt. Ltd., the top real estate company in Lucknow, promoted by Singapore-based firms through foreign direct investment. Azea Botanica offers luxurious 3 & 4 BHK flats at a prime location of Vrindavan Yojna, Raebareli Road. Rajeev has a hobby of writing articles, blogs and likes driving sports bikes and cars.

Rajeev is an avid writer and regularly writes articles and blogs on Lucknow real estate.