The entry of various number of organized players in the Indian realty business has put a pre-launch of properties on a backfoot. This has not come as respite for end customers, but to a great extent is also symbolic of the industry attaining maturity in India. Although no official statistic is available, but the industry experts feel that over last one year, the number of pre-launches has gone down by almost half.
According to Rumneek Bawa, a real estate and infrastructure head zoom developers " no developer of scale and credibility would like to for prelaunch of a property.
Particularly now, when so many alternatives like FDI, loans and IPO's are available.
Rather the origin of prelaunches could be traced to the days when funds for developing projects were scarce. Many small developers had the land but they never had the sufficient money to develop the project. Therefore to get the necessary cash, they used to sell off property while still on the conceptual stage.
Experts claim that these parties usually do not find any retail buyers.
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