Realtors rallying to win buyers' confidence

Having crossed the meandering times and trying to learn from past mistakes, realtors are now rallying to win the confidence of buyers.

With real estate market in the region beginning to show some signs of improvement, the developers are now working on plans that help them win back the confidence among buyers.

Most of the projects launched in last few months are working on construction linked payment plan, which could help them win confidence of buyers.

DLF Limited that launched “DLF Valley’ project coming up in Pinjore (Haryana), touted to be one of the biggest township projects for DLF outside Gurgaon has introduced features like ‘construction linked payment plan’ and introduction of ‘penalty clause’ for the DLF Valley project , through which the company is looking to restore the customer confidence.

Similarly Chandigarh based Premium Acres Infratech Private Limited which launched a residential project in Mohali is working on construction linked payment plans as the company aims to deliver in 18 months.

In construction linked plan, the buyers pays installments on pre determined rate of progress of the project. Earlier most of the builders focused on time linked payment plan in which buyer is supposed to pay regular installments at pre determined time schedule.

The real estate analysts in the region maintain that considering the fact that many projects got delayed in ‘time linked plan’, and buyer’s confidence was badly shaken, ‘construction linked plan’ is need for the hour.

Similarly developers in the region are also working on subvention scheme. Kamal Jindal working as Project Head with Savitri Heights maintain that they were working on subvention model. In this model the developer would pay Equated Month Installments(EMI) to the bank on behalf of customer for pre agreed period of time.

Vishal Kaushal, CEO, Wealth Doctor, which is channel partner to few of the real estate projects in the region maintained the schemes being launched by developers is aimed at making buyer feel comfortable while purchasing property.

Manoj Kashyap, Regional Director, Homebay residential part of Jones Lang LaSalle Meghraj (JLLM), maintained it was positive step to see the realtors were working to gain confidence among buyers.