Consumer preference towards brands having the right expertise is leading towards consolidation in the marketplace.

The sales of residential property are gaining momentum in Kolkata, with established brands cornering a larger share of the pie in a market where launches continue to remain tepid. 

Brokerages, developers and people associated with the trade say bookings and transactions have picked up from January for established players, rivalling the situation before Covid-19 sent the economy to deep freeze.

Consumer preference towards established brands having the right expertise to deliver good projects in a time bound manner is also leading towards consolidation in the marketplace. 

“There has been a pick-up in demand from October onwards. Well-known builders are getting good traction” renowned developer stated. Other developers concurred that reputable developers are getting traction. “Weak hands are slowly exiting the market. With a realty regulator in place and strict monitoring by the banks, delivering a large project on time requires a bandwidth which many would not have”.

Numbers shared by renowned brokerage firm showed a gradual rise in bookings from August-20 onwards with January being the busiest. While the Calcutta market is on a comeback trail, other cities have bounced back sharply.

With home loan rates at a historic low and conducive for investment/end-use, consumers have realised that it could be the opportune time to buy a home, another established developer added.

Source: www.telegraphindia.com/business/residential