New Delhi: Bengaluru-based Provident Housing, a subsidiary of Puravankara Ltd, has emerged as topmost affordable housing brand in the country as perceived by home buyers, according to a market survey carried out by property consultant Knight Frank and Royal Institute of Chartered Surveyors (RICS).
Mahindra Lifespaces and PS Group ranked second and third respectively in the survey.
The top 10 brands according to the survey are:
1 Provident Housing
2Mahindra Lifespaces
3 PS Group
4 Prestige Group
5 Lodha Group
6 ATS Homekraft
7 Signature Global
8 TATA Value Homes
9 Godrej Properties
10 Ashiana Group
Eighty percent homebuyers mentioned cost as the top most consideration while purchasing a home followed by safety and security, the survey highlighted. As many as 52 percent homebuyers said parking space was a major gap in terms of their requirements in their current residences.
The affordable home segment offers great potential which is yet to be fully explored. This segment will definitely perform better when affordable housing projects ‘on-ground’, while catering to the needs of customers on security, safety and lifestyle attributes are successfully executed and energies stay focused on delivering these within the promised cost and timeframes,” said Nimish Gupta, MD, South Asia – RICS.
“Customers of affordable housing are highly value conscious and since they normally buy a house once in their life time, the focus is more on developer credibility. Today, when most of the stake holders in real estate sector are boarding the affordable housing bandwagon, they need to first understand their consumers before converting their ideas into reality,” said Shishir Baijal, Chairman and MD of Knight Frank India.