In the survey by Track2Realty, an independent research and think tank group that conducts the survey annually, consumers across the nation have voted SOBHA as their top choice of builder among 10 others. The reasons for the choice were obvious; in each of the parameters that were voted in – timely delivery, quality, value for money, transparency, relationship management, brand reputation, matching promises, peer endorsement – are qualities that SOBHA has steadfastly, over the last 30 years upheld in high esteem and with no compromise.
The fact that even at a time when consumer buying sentiment has taken a beating due to GST, demonetization, and a not very buoyant economy, buyers have shown faith in SOBHA, is the highest reward that the company can garner – better than any other industry award.
Here’s to being able to continue keeping the promises and the winning streak.
Five property developers of Bengaluru are among the top 10 property developers in the country with the highest levels of consumer confidence, a survey by independent research centre and think-tank group Track2Realty found.
The five are Sobha, Prestige, Embassy, Brigade and Puravankara. The others in the top 10 include four from Mumbai – Godrej Properties, Oberoi Realty, K Raheja and Hiranandani – and DLF of Delhi-NCR.
The builders were evaluated on 10 parameters, with each parameter carrying equal weightage. These include timely delivery, construction quality, matching promises, value for money, peer endorsement, truth & transparency, relationship management, brand reputation, safe investment, and amenities & liveability. The study was based on a survey conducted on a sample of 10,000 respondents in 20 cities across India and restricted itself to the affordable and midsegment buyers. Most of those surveyed were first time buyers.
“Aware and empowered buyers, cut throat competition due to standing inventory, crowded market with little product differentiation, and few years of consistent slow sales...clearly suggest that the focus must now shift to the consumer experience,” the report said.
Bengaluru as a city saw high consumer confidence (34 out of 100). The national average was 28. Kolkata has the lowest consumer confidence, at 12. The survey found a great degree of pessimism in the housing market as buyers look to keep a lid on their temptations due to job uncertainties, low capital appreciation, and delay in delivery. Home buying sentiment is at an all-time low, with the market being shaken up by demonetisation, RERA (Real Estate Regulation Act) and GST. Sobha topped the overall list. Consumers had a better perception of Sobha on construction quality and value for money. Bengaluru developers, in general, scored more than others in brand reputation, with an average score of 8.1 on a scale of 10.
The report affirms that the real estate sector in Bengaluru, primarily end user driven, is one of the most organised in the country. Respondents in Mumbai and Bengaluru had most confidence in the developers based in their cities. But respondents in north India, the most badly hit market in the country, have substantial confidence in developers based in other cities, including Sobha, Godrej and Tata Housing.