IMPORTANCE OF AWARDS IN REAL ESTATE SECTOR

The real estate sector has come across a long way in the past 20 years. From residence to commercial projects, from low-cost housing to luxury housing and much more. This sector has not only changed the shape of development, but has also handsomely contributed to the Indian economy. With a consistent contribution of significant amount to the GDP each year, this sector is ready to take the economy to the stars.

But still, the purchasing decision of buyers is a long and confusing process. They are most of the times so confused that they have to think a lot and research a lot before investing their hard earned money in property. The information available to them is not real and sculpted to a great extent. This is a major reason that there is a slowdown in realty market today.  Customers are not motivated to invest in real estate. Grabbed by the fear of being cheated and deceived, makes them hold back their investing decisions. With immense options of realty developers present in the market today, buyers find themselves tangled, result being, suspension or termination of property buying decisions. It is in fact to be noted that there is not even a single platform where the buyers get all the reliable and genuine information collectively at one place. They do not have any source which proves the authenticity of the property and the real estate firms too. Today we see that demand in realty sector seems to be decreasing, but if studied and researched thoroughly we will find that in most of the cases it is the wrong information or confusion in the minds of buyers which holds them back to buy or invest. Every buyer wants to pick the best deal when making purchase, but that can be successful only in the case when they have all the trustworthy and complete information about the realty developers and their projects.

From among many factors taken into consideration while buying property, a well-recognised realty firm is preferred over the other players in market. The reason being very simple, that recognition and goodwill is always achieved by consistent good work and best customer services. But then again, authenticity of this recognition is questioned because these days even the recognition is also on sale. Here, comes a need of a reliable source or platform that recognizes and appreciates the finest of people and their works. Because, it’s important that the outstanding and supreme works of finest realty developers do not go unnoticed. Such performance and commitment is worthy of recognition of the highest level.

This is where the importance of recognition; of awards come into picture. The ultimate achievement is earned when the hard work is appreciated, and this is only possible when awards are presented to the people associated with this sector. Recognizing the people of this sector will benefit both, developers and customers. The developers will be motivated to do even better and if they do well, customers get greater standards of living and infrastructure. Money and fame does not always go parallel. It is easy to earn money but equally difficult to gain fame. Therefore, it is very important that real estate gets the right honor and justice that it deserves. 

Awards in real estate sector has been an international phenomenon. But these awards have been gaining popularity in India over the past few years, primarily because, an award not only allows the company to come into limelight but gain a name and fame which helps them to reach at a wider set of audience. Greater the popularity, larger the target audience becomes thereby creating credibility into the minds of the customers to choose that particular brand. This ensures greater return in the short and long run. It is extremely important that this sector gets recognized as it is currently the highest contributor to the economy. Awarding the right people for the best performance will identify their talent and good work in addition to the recognition and acknowledgement they get among buyers. This would not just help them in acquiring the confidence among potential buyers but on the other hand, will bring lot of goodwill to build their strong brands in the market.