H1 2019 Sees MMR New Housing Supply Rise Over 100% Against H1 2018
- Festive season sees homebuyers across budget bands scout homes in Financial Capital
- TRESPECT launches Mumbai office, to capitalise on festive season with bouquet of new project launches
MUMBAI, Sept. 5, 2019 /PRNewswire/ -- TRESPECT, India's definitive tech-driven B2C residential real estate broking firm, has opened its first dedicated office at Andheri in the heart of Mumbai today. The Firm had earmarked the start of the festive season as optimal for its official launch in India's financial capital.
Sunil Mishra, CEO - TRESPECT says, "We couldn't have timed it better. With hundreds of inquiries currently being processed, TRESPECT has its finger on the pulse of one of India's most intensely sentiment-driven real estate markets. Our launch comes not only at a most auspicious time but also at a critical juncture of MMR's property market. The massive demand for right-priced, perfectly-located homes is currently peaking across the region."
TRESPECT is already dealing with inventory across a staggering budget bandwidth. Inquiries range from luxury homes priced between INR 15-50 crores to the most affordable homes within <INR 35-50 lakhs. While its cutting-edge technology solutions help immensely in matching supply with demand, Mishra sees a tough road ahead. The return of positive sentiments in MMR has prompted real estate developers to add massive new supply to the market.
"While demand doubtlessly exists, the ratio between demand and supply is far from balanced," says Mishra. "Our current readings are that there are perhaps twenty homes on sale for every genuine buyer that meet their expectations. Nevertheless, our motto is to provide each customer with the best possible property at the best possible price."
Market trends indicate that in just H1 2019, new housing supply in MMR rose by over 100% against H1 2018. Interestingly, the magnitude of demand matches the new supply pipeline in terms of numbers. However, ready-to-move options are often a better fit for buyers with a precise wish list.
Amit Sinha, COO - TRESPECT says that housing sales velocity in MMR has improved by 62% over the past one year. "There are definite signs of a strong, long-term revival and these signs are most evident in this year's festive season. We are negotiating very attractive festive season discounts for our buyers to ensure that their aspirations are fulfilled by the end of Q4 2019. In many cases, these discounts take the form of waived stamp duty and registration charges, and in some cases even GST."
About TRESPECT India Private Limited
TRESPECT India Private Limited is a pan India residential real estate broking firm that focuses on open market residential business by adopting the latest technologies to meet the requirements of end-users and investors. The firm is built around the key attributes of trust, respect, credibility and professionalism.
TRESPECT is an independent firm operating in key residential markets across top 7 metros - Mumbai, NCR, Pune, Bangalore, Hyderabad, Chennai and Kolkata. It offers comprehensive end-to-end services to its customers which will include thorough research and financial advisory backed by a proprietary tech-driven platform to ensure seamless transactions.
TRESPECT has a team of experienced and certified real estate professionals who understand the ever-changing consumer needs and market trends. The Firm aims to build long-term relationships with its valued customers and become the most-preferred open market residential business service provider in India.
Visit https://www.trespect.com/
Media Contact :
Vinod Dangi
[email protected]
+91-9930852012
Manager - Marketing
TRESPECT India Pvt. Ltd.
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