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Last updated: 15 Apr, 2024  

Vineet.9.thmb.jpg Complex regulations slow down realty transactions in Gurugram: Asset Deals CEO & Founder

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SME Times News Bureau | 15 Apr, 2024

Navigating complex regulations can slow down transactions, said Mr. Vineet Chellani, CEO & Founder of Asset Deals, commenting on challenges faced by the realty sector in Gurugram, in an interview with SME Times.

Excerpts of the interview...

1. What are the key trends you're seeing in the Gurugram real estate market (residential/commercial) right now? 

The Gurugram market is experiencing strong demand in both residential and commercial sectors. We're seeing a rise in:

  • Affordable Housing: There's a growing need for mid-segment and affordable homes due to the increasing number of young professionals.
  • Luxury Properties: Demand for premium apartments and villas in prime locations remains high.
  • Commercial Growth: Office spaces are in demand as businesses expand, particularly in co-working models.

2. What are some of the biggest challenges facing the real estate industry in Gurugram? How is your firm helping clients navigate them?

Gurugram's real estate market faces obstacles like:

  • Inventory Management: Matching supply with diverse buyer needs can be challenging.
  • Regulations: Navigating complex regulations can slow down transactions.

How Asset Deals Helps:

  • Market Expertise: Our team stays updated on market trends and fluctuations.
  • Streamlined Processes: We guide clients through legalities and paperwork, ensuring smooth transactions.
  • Targeted Search: We understand buyer needs and curate properties that match their requirements.

3. How has the landscape of real estate consultancy changed in recent years? What are the biggest challenges new firms face?

The real estate consultancy landscape has seen a shift towards:

  • Technology Integration: Digital tools are streamlining processes and property marketing.
  • Data-Driven Decisions: Data analysis helps us provide informed advice and identify lucrative investment opportunities.
  • Focus on Specialization: Consultants are specializing in specific property types or buyer segments.

Challenges for New Firms:

  • Standing Out: Competition is fierce. New firms need a strong brand identity and niche expertise.
  • Building Trust: Establishing credibility in a market dominated by established players can be difficult.

4. What types of real estate investments are your clients currently most interested in (e.g., residential flips, commercial development)? Why?

Currently, clients are most interested in:

  • End-Use Residential Properties: People are looking for homes for themselves rather than flipping.
  • Stable Rental Properties: Rental market growth makes apartments attractive investments.
  • Select Commercial Properties: Strategically located commercial properties in high-growth sectors are in demand.

Reasons Behind the Trend:

  • Long-Term Security: Clients seek stable investments with predictable returns.
  • Rental Market Potential: Gurugram's rental market offers good income opportunities.
  • Commercial Growth: The city's booming business scene makes well-located commercial spaces attractive.

5. In your expert opinion, what are some of the emerging technologies that will have a significant impact on the real estate market in the coming years?

These technologies will significantly impact real estate:

  • Virtual Reality (VR) & Augmented Reality (AR): VR tours and AR property visualization tools will enhance the buyer experience.
  • Big Data & Analytics: Data analysis will help predict market trends, identify profitable investments, and personalize client recommendations.
  • PropTech Platforms: Online platforms will streamline property search, transactions, and property management.

6. In what ways is your firm leveraging technology to improve its services and client communication?

We leverage technology in several ways:

  • Digital Marketing: We use online platforms and targeted advertising to reach a wider audience.
  • Virtual Tours: We offer virtual tours for properties, allowing clients to explore remotely.
  • Data-Driven Insights: We utilize data to understand market trends and provide clients with informed recommendations.

By embracing technology, Asset Deals strives to deliver exceptional service, efficient communication, and a smooth real estate journey for our client.

** The views expressed in this article are solely that of the author and do not necessarily reflect the views of SME Times.

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