Hero Realty Launches Ludhiana Sales Gallery Offering Truly Immersive Experience For Homebuyers
Ludhiana, 7th Oct 2024 : Hero Realty, known for its innovative concepts, dedication to sustainability, and client-centric approach, celebrated the spirit of Navratra with the unveiling of its new sales gallery for Phase 2 of Hero Homes Ludhiana. Channel partners and other dignitaries were invited to take part in the celebrations, which began with a traditional Havan Puja followed by a brunch.
The sales gallery is a modern showcase of what Hero Homes Ludhiana has to offer. Designed to provide a fully immersive experience and allow potential homebuyers to explore the development’s features firsthand, this cutting-edge space is equipped with advanced technology to give visitors a clear sense of the living spaces and amenities on offer, creating a seamless journey for anyone looking to invest in a home.
Madhur Gupta, Chief Executive Officer of Hero Realty, expressed his enthusiasm for the new gallery, stating, “This is an important milestone for us. The sales gallery is not merely a space it serves as a window into the lifestyle we are cultivating at Hero Homes Ludhiana. We have designed it to provide our customers with a more insightful experience, allowing them to truly appreciate what makes our homes unique.”
Phase 2 of Hero Homes Ludhiana continues to focus on delivering smart, thoughtfully planned homes. With an emphasis on modern living, sustainability, and community, this phase is expected to draw strong interest from homebuyers seeking a balanced lifestyle that combines comfort with contemporary features.
The Navratri event set the perfect tone for the unveiling, starting with the Hawan Puja, a ritual to invoke prosperity and good fortune for all. Afterward, channel partners had the chance to explore the gallery and connect over a relaxed brunch. The gallery itself reflects Hero Realty’s forward-thinking approach, offering a glimpse into a future where innovation meets quality.
Hero Realty continues its commitment to building sustainable, high-quality homes, and Phase 2 of Hero Homes Ludhiana is a prime example of how the company is bringing this vision to life.
Nibav launches Advanced Series 4 Home Lifts for Homeowners of Guwahati, Aims to Elevate Luxury and Convenience in Homes
Guwahati, 07th October 2024: Staying committed to delivering quality in-house mobility solutions, Nibav Lifts, India’s largest home elevator brand, has introduced its revolutionary Nibav Series 4 Home Lifts. This new launch seamlessly integrates advanced technology with exceptional design, offering Guwahati homeowners an elevated experience of luxury, and convenience equipped with state-of-the-art features such as an AI-enabled cabin display, intuitive LOP display, and LIDAR 2.0 technology for precise navigation and gentle landings, the Nibav Series 4 lifts are a breakthrough in the home elevator industry. Available in an exclusive Midnight Black edition, they offer the most spacious cabin among air-driven lifts. These lifts are crafted with stylish elements including ambient lighting, New Zealand wool carpets, starlight ceilings, and leather finish interiors. The unveiling ceremony, led by Shri Santosh Banka, Architect and attended by senior management from Nibav Home Lifts, took place at the brand’s flagship Guwahati Experience Centre.
Elated over the new product launch in Guwahati, Mr. Vimal Babu, CEO & Founder of Nibav Lifts, said, “We are proud to introduce our latest innovation to the homeowners in Guwahati. Our Series 4 home lifts are crafted to enhance your living experience with unmatched luxury and convenience. Especially with our new Series 4 home lifts, we have focused on marrying two key elements – technology and design, which makes it a statement addition to the interiors of a home. Our brand is renowned in the market for safety and durability, with Nibav Series 4 we have set new standards and offer unparalleled quality. We are confident that homeowners will certainly benefit from our Series 4 lifts.”
Setting a new benchmark in the safety features, Nibav Series 4, lifts are integrated with Rapid Rescue Latch (RRL) for quick and safe evacuation by rescue teams during emergencies. The RRL enables the easy removal of polycarbonate glass, ensuring fast passenger extraction in case of any emergency. With Carbon Seal 2.0 installed, the Nibav has increased the durability of Series 4 lifts, ensuring long-term performance and reliability. The new home lifts are also enabled with GSM connectivity, allowing users maximum safety and flexibility.
The series 4 lifts also are landing cable-free and have notable features like ambient and accent for cabin pillars with leather finish, concealed fans with controls, touch screen display with digital and analog clock and are hand gesture enabled.
The S4 Lifts are available to be experienced at Nibav’s Experience Centre Shop No 1, Sacred Heart Mansion, GNB Rd, Krishna Nagar, Chandmari, Guwahati, Assam 781003
FOMO vs. FOBO – In A House Hunt, One Helps and the Other Hurts
By -Akash Pharande, Managing Director – Pharande Spaces
India’s real estate market provides many opportunities for home buyers. However, it is not easy to navigate, especially for first-time buyers. With so many options and also varying offers from developers, it is often difficult to decide which property purchase ticks all the right boxes for an individual buyer who has never purchased a property before.
Within this complexity, the psychological phenomena of FOMO – the Fear of Missing Out and FOBO – the Fear of Better Options – play big roles in homebuyer decisions. While FOMO can be advantageous in such decisions, FOBO leads to indecisiveness. This can have potentially harmful results.
FOMO and FOBO – Digging Deeper
FOMO is a state of anxiety induced by the fear that one is missing out on an exciting or lucrative opportunity. In real estate, FOMO is what drives timely purchase decisions. As we know, the best projects sell out quickly and prices are also constantly rising, so FOMO is a positive impulse.
On the other hand, FOBO – the Fear of Better Options – causes aspiring buyers and investors to overanalyze the available options. At any given time, more than just a few properties are available to homebuyers that meet their budget, ideal location and lifestyle expectations.
FOBO tends to paralyze the decision-making process because the buyer is constantly hoping to find a superior alternative even if they have already identified a very suitable option. There is, of course, nothing wrong with having plenty of options, but FOBO tends to get buyers stuck in an endless loop of indecision. This can cause them to miss out on perfectly good properties at acceptable price points.
FOMO Can Be Your Ally
Though FOMO has become a derogatory word on social media, it has its advantages. In the context of residential property, it can induce genuine buyers to make timely decisions. This is very important in a market where the best options are often sold out during promotional launches. Infrastructure development, demand, and escalating development costs are constantly pushing up property prices. Homebuyers who experience FOMO at the right time and act on it are often at an advantage in such a fast-paced market.
In many of our cities, projects in high-demand areas often have limited inventory. Once these options are sold and off the market, there may be no similar options available at such prices for a long time – or ever. FOMO helps buyers to overcome hesitation and act quickly when they see a property that meets their needs and budgets.
Likewise, home loan interest rates can be quite volatile, and they play a major part in the overall cost of acquisition. When interest rates are low, FOMO works to the benefit of buyers by driving them to apply for home loans and closing deals before interest rates go up once more. The same is true for periods of discounts, such as the festive season
First-time homebuyers undergo a lot of anxiety when the time comes to take the plunge. FOMO helps convert this anxiety into productive action. Once buyers finally make their commitment, the fear of missing out goes away and relief takes its place.
FOBO – The Fence-sitter Limbo
In contrast, a state of perpetual indecision leads to stress and regret if good options are missed out on. While FOMO can result in positive action, FOBO tends to freeze the decision-making process altogether. While scouting the housing market for a home, this can have catastrophic consequences.
FOBO results in an endless chase after a ‘better’ property, location, or deal. Buyers in this state of ‘analysis paralysis’ tend to see one favourable option after the other snapped up by someone else, or become too costly for them to buy.
With FOBO, a buyer who finds a home in a good area, in a project by a good developer, and at a price they can afford, will entirely miss the bus as they perpetually look for a better deal. By the time they circle back to the previous option, it is often too late.
The endless search for the ‘ideal’ option in a world where perfection is a myth only results in emotional distress and lost opportunities. Yes, the housing market is replete with options, but no single home buyer can – or should aspire to – inspect them all. Buyers with FOBO are invariably frustrated, confused people who cannot make up their minds on anything of significance.
In real estate, time is money and you can’t afford to lose either. A delay of even a couple of months can mean a substantial increase in property prices due to demand, inflation, or other market factors. FOBO’s inability to commit to a decision often results in missed chances to lock in properties at favorable prices or lower interest rates.
Over time, these costs add up, making the eventual purchase far more expensive than it would have been had the decision been made earlier.
Finding the Middle Ground
That said, there is also a healthy balance of FOMO and FOBO possible. It’s just a matter of finding that mid-point. Even if there is a sense of urgency, a buyer must not make hasty decisions and do his or her due diligence.
It is certainly important to see as many properties as is feasibly possible. This should not be a hurried process. It is best to set oneself a timeline within which a decision will be made. Usually, a month of dedicated searching is ample time. It is also important to factor in market conditions and to take professional advice before signing on any dotted line.
You want to leverage the urgency of FOMO and turn it into positive energy – but set realistic criteria. A buyer should have a list of ‘must-haves’ to refer to, and should not over-extend their budget. Set a limit to how big your shortlist should be.
If it starts getting endless, FOBO has taken over and it is time to snap out of it. You’re looking for a home that makes you happy, which you can afford, and which will appreciate well over time. Once you’ve found this home, make sure that you know that your hunt is over.
About the Author:
Akash Pharande is Managing Director – Pharande Spaces, a leading real estate construction and development firm famous for its township projects in Greater Pune and beyond. Pharande Promoters & Builders, the flagship company of Pharande Spaces and an ISO 9001-2000 certified company, is a pioneer of townships in the region. With the recent inclusion of Puneville Commercial into one of its most iconic townships, Pharande Spaces taken a major step towards addressing Pune’s current and future requirements for fully integrated residential-commercial convenience
HOMETHON Property Expo 2024 sees 77 New Launches with over Rs 10,000 crore inventory for sale
Mumbai, October 07th, 2024: In a spectacular showcase of the Mumbai Metropolitan Region’s vibrant real estate sector, more than 77 new projects were launched at the third edition of HOMETHON Property Expo 2024 organised by NAREDCO Maharashtra, which began at Jio World Convention Centre in Mumbai today. Over ₹10,000 crore worth of inventory has been launched in the MMR region and is being showcased at the expo. This mega event presents buyers with an once-in-a-lifetime opportunity to invest in Mumbai’s most dynamic real estate market. The inventory features a comprehensive range of properties, from affordable housing to luxury residences and premium land parcels, catering to diverse buyer needs.
The expo will be on till October 6, 2024 and has already witnessed a spurt with over 75,000 homebuyers registered for the three-day exhibition to explore various options of property buying in Mumbai Metropolitan Region and other parts of Maharashtra. This year’s registration numbers are almost triple over the last year indicating a huge demand for home ownership by the buyers for housing properties at different locations with multiple price points coupled with attractive offers. Mr Prashant Sharma, President, NAREDCO Maharashtra revealed the fact on the occasion of inauguration of HOMETHON Property Expo 2024.
Mr. Sharma also announced the launch of NAREDCO Maharashtra’s yet another ambitious initiative of ‘Redevelopment Council’ whereby a special window has been set up in the Expo to solicit the enquiries of housing societies from all across the MMR and rest of Maharashtra and facilitate a complete advisory and execution of redevelopment proposals made by the incumbent societies. Until now, over 4000 housing societies have already registered to seek redevelopment proposals.
HOMETHON Property Expo 2024 also saw a unique initiative whereby NAREDCO MAHARASHTRA has put forth its plans to sign a Memorandum of Understanding (MoU) with the Government of Maharashtra to promote eco-friendly and sustainable urban development and instill green building practices among the real estate fraternity. For the same, NAREDCO Maharashtra will soon sign an MoU with Maharashtra State Agriculture Price Commission chaired by Shri Pasha Patel, informed Mr. Rajan Bandelkar, Vice Chairman, NAREDCO.
Commenting on the significance of the expo, Mr. Prashant Sharma, President of NAREDCO Maharashtra said, “The HOMETHON Property Expo will be a game changer for the MMR real estate sector. With over 10,000 crore of inventories up for sale and 77+ new projects launched, this expo will play a pivotal role in addressing the region’s housing demands. It’s the perfect platform for developers and buyers to connect, and with such a diverse range of offerings, we believe there’s something for everyone.”
Dr. Niranjan Hiranandani, Chairman, NAREDCO says, “The housing market is currently experiencing a vibrant surge, fueled by greater job stability, increased disposable incomes, and rising aspirations. Against this backdrop, and with the added excitement of the festive season, this property exhibition is uniquely positioned to help home buyers achieve their long-cherished dream of owning a home.”
Mr. Rajan Bandelkar, Vice Chairman, NAREDCO says, “NAREDCO Maharashtra is dedicated to creating a robust ecosystem marked by trust and transparency, which has significantly bolstered home buyer confidence. This property expo offers an exceptional opportunity for developers to showcase their premium projects and connect with prospective buyers. With exclusive discounted rates and a wide range of options, this event is designed to make the home-buying process more accessible and rewarding for all. We are excited to facilitate this vital connection and support our vision of making home ownership a reality for many.”
This mega event presents buyers with an once-in-a-lifetime opportunity to invest in Mumbai’s most dynamic real estate market. The inventory features a comprehensive range of properties, from affordable housing to luxury residences and premium land parcels, catering to diverse buyer needs. HOMETHON 2024 will also provide visitors with the opportunity to engage in one-on-one consultations with real estate professionals, offering personalized guidance on the home-buying process.
Godrej Properties Achieves Record Q2 and H1 Performance in Bookings and Collections
Bangalore, October 7, 2024: Godrej Properties Limited (GPL) , a leading national real estate developer, announced it has achieved its highest ever Q2 and H1 performance on several critical operational parameters including bookings, collections, operating cash flow, and new business development
· Godrej Properties delivers its highest ever Q2 and H1 bookings.
o Q2 FY25 booking value grew 3% YoY to nearly INR 5,200 crore from sale of over 5.1 million sq. ft. This is the highest ever Q2 booking value achieved by Godrej Properties.
o H1 FY25 booking value grew over 89% YoY to over INR 13,800 crore. This was achieved through the sale of over 8,600 homes with a total area of over 14 million sq. ft. This is the highest ever H1 booking value achieved by Godrej Properties.
o GPL has achieved 51% of its annual guidance for booking value for FY25. In the past 5 financial years, GPL has averaged 37% of its full year sales in the first half of the financial year.
o Sales in Q2 FY25 were driven by strong demand in some key new project launches including Godrej Vrikshya in NCR, which delivered a booking value of nearly INR 1,500 crore and Godrej Woodside Estate in MMR, a plotted development project, which delivered a booking value of more than INR 600 crore.
o GPL’s bookings in NCR, Bengaluru & MMR in H1 FY25 grew 69% to over INR 5,400 crore, more than 200% to over INR 3,800 crore and more than 100% to over INR 3,100 crore respectively.
· Highest ever Q2 and H1 collections & operating cash flow (OCF)
o Q2 FY25 collections stood at over INR 4,000 Crore representing a YoY growth of 68% and H1 FY25 collections stood at over INR 7,000 Crore representing a YoY growth of 62%. This is the highest Q2 and H1 collections achieved by Godrej properties respectively. GPL has achieved 47% of its annual guidance for collections for FY25.
o Q2 FY25 OCF stood at over INR 1,800 Crore representing a YoY growth of over 120% and H1 FY25 OCF stood at over INR 2,800 Crore representing a YoY growth of over 200%. This is the highest ever Q2 and H1 OCF achieved by Godrej Properties respectively.
· Strong start to the year for business development
o GPL has added 8 new projects in year-to-date FY25 with a total estimated saleable area of approximately 11 million sq. ft. and total estimated booking value potential of ~INR 12,650 Crore. This included 6 new projects with an expected booking value of 9,650 Crore in Q2. GPL has achieved 63% of its annual guidance for business development in H1 FY25.
Gaurav Pandey, MD & CEO, Godrej Properties, said, “We are delighted with the scale up we have achieved in the past couple of years. The sales bookings of over INR 13,800 crore in H1FY25 surpasses our annual bookings in FY23. We are pleased that this sales growth was on the back of both an improving project mix as well as strong volume growth of 89%. Importantly, our robust sales performance, has translated into record collections growth of 62% to over INR 7,000 crore and Operational cash flow growth of over 200% to over INR 2,800 Crore in H1FY25. We’d like to take this opportunity to sincerely thank our customers and all stakeholders for their trust and confidence in Godrej Properties.
Our business development additions of Rs 12,650 crores in H1FY25 will ensure that we continue to have a strong launch pipeline not just for the current year but for years to come. This includes a number of projects at the prestigious Golf Course Road in Gurugram. We have also entered the market of Indore recently and are looking forward to our first launch in this city. We have built a deep understanding across the key real estate markets in India and are greatly excited by the potential the next several years offer for us to deliver sustained high-quality performance across all key operating metrics.”