Snippets: Govt's moves may revive resale market despite initial dip

Some property consultants believe that policies such as demonetisation, Rera and GST have worked to drive 10-12% increase in the number of buyers in the secondary real estate since demonetisation

Have the government’s moves to clean up the real estate sector benefited the resale (or secondary sales) market despite initial dip or apprehensions? Some property consultants believe that is the case. Policies such as demonetisation, Real Estate Regulatory Authority, GST, Real estate investment trusts, the Benami Transactions (Prohibition) Amendment Act, 2016, and the Pradhan Mantri Awaas Yojana, among others, have worked in different ways to drive a 10-12 per cent increase in the number of buyers in the secondary real estate since demonetisation. Property value in the secondary market reduced by as much as 5-10 per cent over the primary market and this has driven up demand, says Santhosh Kumar, vice-chairman, ANAROCK Property Consultants. “Cash transactions, which formed almost 30-50 per cent of the total payments earlier, have been seriously curtailed and investors no longer see any point in hoarding properties to use up their black money,” he says.

 

CX pyramid

According to Gartner, Inc. 81 per cent of customer experience (CX) leaders report they will compete mostly or entirely on CX, but less than half have established the rationale for why CX drives business outcomes. The goal of CX is to meet and exceed customer expectation but just 22 per cent of CX leaders report their CX efforts exceed customers’ expectations. To address this challenge, Gartner has unveiled the CX Pyramid, a methodology to forge powerful experiences that deliver greater customer loyalty and brand advocacy. The pyramid focuses on 5 key stages. These are furnishing customers with the information they can use via the right channel, solving problems quickly and efficiently, listening for, understanding and resolving customers’ unique needs, proactive action and making customers feel better, safer or more powerful.