'Chappar Phadke'
'Monsoon Dhamaka'
'Lockdown Bonanza'
'Ghar Baithe Ghar Basao'
Bland but these are some of the captions thrown at our face from our mobile handsets at 'Roger Federer' like consistency. What's most intriguing is that the sender is surprisingly a BUILDER or DEVELOPER.
With COVID-19 enforcing complete lockdown on not only the nation, but also on the economy, it was a deathly silence at the places where once chaos ruled. Downed shutters, closed gates, silent streets, dumb and numb transports, might have warmed the hearts of over-enthusiastic environmentalists. But certainly not of the industry, economy and entrepreneurs who are the worst sufferers due to the 'yet to be controlled' pandemic.
However, there was a conspicuous exception to the above monotony. As they say,
'when the going gets tough, the tough gets going,' here comes an unlikely entrepreneur who has been playing the "CLIFFHANGER" since the last 3-4 years.
We all know that the Real Estate industry has been sailing the choppy seas due to rapidly introduced policy changes that took away breath from the industry which was already on ventilator. The onslaught of COVID-19 would have certainly made many believe that builders and developers would soon be joining the species that are extinct. But that was not to be. If I say, 'just like the raw materials they use for construction, builders are made of nerves of STEEL', I'm sure I will be pardoned for the exaggeration.
The undying spirit of builders coaxes me to dig into my past blogs and bring alive the example of SUNFLOWER that never looks down even after Sun moves to the other side of the planet earth. This spirit has been on HD mode of display in Real Estate Industry, ever since the villain, COVID-19 stepped on the Indian soil. The result is, for Home Buyers this time around the twin festivals Dussehra-Diwali have arrived quite early.
GOVT. LARGESSE:
Though the last one to join the party, the credit for laying the icing on the cake, goes to Government Of Maharashtra which not only announced big reduction in Stamp Duty charges but also declared timeline for it's restoration to the original rates in advance. This has woken up even the laziest of house hunter to make the most of this 'French Window' opened by the Chief Minister, also known as Common Man's CM. Thank you Honorable Mr. Chief Minister.
Ripple effect has been felt across the country as more CEO's of other State Governments join the 'Band Baaja Baraat,' though the Band Master is yet to reciprocate (Pun intended).
LION HEARTED BUILDER:
It all began with subtle yet significant price variations introduced in the form of differential pricing, a strategy that worked well for ready possession inventory.
The under construction projects followed suit and went a step further by introducing 'Step Up Floor Rise' pricing, a strategy that gives same price band upto certain number floors.
Some marketing savvy developers introduced assured gifts that the prospective customer couldn't buy due to effects of Pandemic. This 'instant win' ensured an instant 'Madhuri Smile' on the face of the Lady of the house, while the family came out of Sales Room of developer after booking the Flat. Trust me, the feeling is no less than the Bowler who would have clean bowled 'The Wall', Rahul Dravid.
'Pay Nothing Till Possession',
'Live Now, Pay Later',
'Ab Ghar Kharidne Keliye Sirf Ek Rupya Hi Kaafi Hai',
'Choose Your Neighbors'
The list of innovative schemes from the developers goes on and never seem to end.
For once, the developers have put to shame the MNCs vis-a-vis marketing strategies. While some developers played 'Santa' to the prospective Home Buyers, the others applied balm to distraught and exasperated victims of the effect of COVID-19 by absorbing various charges. The result was the same. Prospects turned Buyers.
The sales registers started filling sooner than expected, so much so that a courageous developer friend of mine even did Bhoomi Pujan and launched a project during the peak of lockdown. Fortune favours the brave. Well done brother. Keep it up.
Presently, a healthy marketing competition is going on in the Real Estate Industry. But in this competition 'Loser Is None & Winner is Home Buyer.'
The confirmed number of bookings in its most authentic form suggests that lockdown has been a blessing in disguise for many a developers and Home Buyers alike. The Home Buyer's expectation of a 'COVID19 Offer Without Infection' now meets the Developer's need for a cure to 'Avoid Getting Admitted To a COVID Hospital'.
In this battle of survival, though a sure shot 'VACCINE' is not available yet, Builders and Home Buyers are ensuring that both survive this pandemic while helping each other to fulfill their heart's desires.
The famous bollywood song from 'Hera Pheri' rings aloud.
'Denewala jab bhi deta,
Deta Chappar Phadke'
Did I hear someone offering 100% Loan?
It's Raining Boon and Bonanza For Home Buyer. It's Monsoon.
Very interesting blogs, keep writing.