As the Hyderabad real estate sector becomes increasingly competitive, developers face a myriad of challenges that demand innovative solutions and collaborative efforts among stakeholders.
Here’s a glimpse into the hurdles we encounter and how we can collectively overcome them:
𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐯𝐞 𝐏𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
To stay ahead, developers must continually innovate in project design and hashtagarchitecture, including leveraging on BIM, hashtagConTech, offering unique and appealing propositions to buyers and investors.
𝐌𝐚𝐫𝐤𝐞𝐭𝐢𝐧𝐠 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬: With unsold inventories piling up, effective marketing & Branding strategies are crucial. Leveraging PropTech, data analytics, AI, AR, VR, MetaVerse, and customer-centric approaches can enhance market penetration and drive sales.
𝐑𝐢𝐬𝐢𝐧𝐠 𝐂𝐨𝐧𝐬𝐭𝐫𝐮𝐜𝐭𝐢𝐨𝐧 𝐂𝐨𝐬𝐭𝐬: Escalating construction costs pose a significant challenge. Collaboration with suppliers, exploring alternative materials, and adopting efficient construction techniques can help mitigate cost pressures.
𝐏𝐨𝐥𝐢𝐜𝐢𝐞𝐬 𝐀𝐦𝐛𝐢𝐠𝐮𝐢𝐭𝐲: Ambiguity in policies and regulations, exacerbated by changes in government and impending elections, adds complexity to project planning and execution. Advocating for clarity and stability in regulations through industry associations and lobbying efforts is essential.
𝐆𝐞𝐨-𝐩𝐨𝐥𝐢𝐭𝐢𝐜𝐚𝐥 𝐔𝐧𝐜𝐞𝐫𝐭𝐚𝐢𝐧𝐭𝐲 𝐃𝐮𝐞 𝐭𝐨 𝐄𝐥𝐞𝐜𝐭𝐢𝐨𝐧𝐬: Geo-political dynamics impact investor sentiment and market stability. Proactive risk management strategies, diversification of investment portfolios, and staying informed about geopolitical developments are vital for mitigating risks.
𝐅𝐒𝐈 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐢𝐨𝐧𝐬: Fluctuating Floor Space Index (FSI) regulations confuson because of change of Telangana govt and leadership affect project feasibility and profitability. Engaging with local authorities, advocating for transparent and consistent FSI policies, and exploring innovative urban planning solutions can address this challenge.
Amidst these challenges, collaborative efforts among stakeholders are paramount. Developers, government bodies, financial institutions, industry associations, and urban planners must come together to foster a conducive environment for sustainable growth and development in the real estate sector.
The real estate industry and all it stake holders including hashtagCREDAI, RERA, HMDA, GHMC, Government, etc need to collborate towards overcoming challenges collectively.