Covid battered residential-realty demand to halve this fiscal: Crisil

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New Delhi, Sep 15 | Covid-19 battered residential-realty demand is expected to halve this fiscal, Crisil Research said on Tuesday.

According to Crisil Research, the already languishing residential real estate demand is expected to plunge 50-70 per cent on-year in the current fiscal.

It cited the Covid-19’s devastating impact on economic activity and with it on big-ticket spending.

As a result, the credit profiles of small-to-mid-sized and leveraged developers will be impacted than larger, experienced developers with healthy balance sheets.

Consequently, with the demand going down, capital values will remain under pressure across cities.

It expects a price correction of 5-15 per cent across across ticket sizes.

“Despite improved affordability, demand translation will be feeble led by income uncertainty arising from pandemic coupled with weak investor sentiment emanating from pressure on capital appreciation or rental yields in the sector over past few years,” Isha Chaudhary, Director, Crisil Research said in a statement.

Accordingly, while demand for new units will see a sharp decline, the blow to customer collections will be cushioned by advances against already sold inventory realised in line with construction progress.

“The one-time relief for Real Estate Regulatory Authority (RERA)-registered projects would provide players an option to manage outflows through flexibility to delay construction spend,” the statement said.

“Postponing capex and land banking plans could be another way. However, overall funding requirements are expected to rise as the hit in collections is expected to be far steeper than the decline in outflows due to deferred construction.”

Source: IANS

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Policybazaar Unveils its new brand campaign "AapKiSideHai"

Policybazaar Unveils its new brand campaign

Akshay Kumar delivers the brand’s promise of always being on the customer’s side

Gurugram, 19th Sept, 2020: Policybazaar.com (Twitter handle: PolicyBazaar), India’s largest online insurance marketplace with over 10 million customers, showcases its commitment to customers in its new television campaign “AapKiSideHai”. The new ad campaign featuring Policybazaar brand ambassador, Akshay Kumar, highlights the brand’s promise of embracing a holistic customer centric approach while helping to bridge the insurance protection gap in India.

Policybazaar’sAapKiSideHai campaign seeks to reassure its customers on being a dependable Insurance partner for them, every step of the way. The brand has always focused on distributing products like term insurance, health insurance, zero commission ULIP’s and motor insurance that are optimal from a customer perspective. Policybazaar is now extending the brand promise beyond the purchase experience to ensure that consumers get the highest levels of service throughout the policy lifecycle.

The new brand campaign reinforces Policybazaar core value of putting the customer first by delivering on its promise of providing a trusted platform for all types of insurance products. The brand is committed to guiding the customer throughout the insurance journey, starting from recommending the right products at affordable pricing, ensuring thatthe policy issuance process is smooth and fast, and, to providing services and claims assistance when needed.

“While we continue to highlight the importance of Health & Term life Insurance through our marketing campaigns, with the brand promise of Policybazaar AapKiSideHai, we also intend to position Policybazaar as a customer centric brand, that is committed to stand by its customers, both pre and post purchase”, said Samir Sethi, Head of Brand Marketing, Policybazaar.com. The new ad series highlights Policybazaar’s unparalleled support to customers, while providing them with the ease of comparing and buying term and health plans online with guidance at each & every step.

Speaking about the TVC launch, Sharat Dhall, Chief Operating Officer, Policybazaar.com said, “Our ultimate aim is to provide 360-degree assistance to customers that starts from when the policy is bought, to provide assistance when the claim is paid out, should such a situation arise. Winning and maintaining customer trust is a strong ethos within the company and this campaign reflects that. At a time when the world is grappling with a crisis like no other, the brand intends to instill confidence in the customers’ buying decisions by assuring them protection of their futures with the right insurance products & thorough assistance throughout the journey.”

The new brand campaign in its series displays moments of indecision that people may have while investing in protection products. It addresses these queries &emphasizes the importance of nurturing a bond with the consumers thereby creating customer delight.

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