The Confederation of Real Estate Developers Associations of India (CREDAI) conducted the Real Estate Developers Sentiment Survey 2022 from December 30 to January 11, 2022. No less than 1,322 member developers participated in the survey.

A large percentage of property developers expect house prices to rise by up to 30% this year due to the sharp increase in building material rates, according to a survey by property body CREDAI. The Confederation of Real Estate Developers Associations of India (CREDAI) conducted the Real Estate Developers Sentiment Survey 2022 from December 30 to January 11, 2022. No less than 1,322 member developers participated in the survey.

About 60% of developers expect prices to rise by up to 20% in 2022, due to rising building material prices, according to the report. According to the survey results, nearly 35% of respondents expect prices to increase by 10-20%, while 25% of builders see up to 10% price increases.

Another 21% of respondents expect property prices to rise in the range of 20-30%. “With the onset of the new third wave, we expect the government to consider additional measures to prepare for and control any additional COVID-19 impact,” said CREDAI National Chairman Harsh Vardhan Patodia.

Most developers are focused on digital transformation, which has led to an increase in online sales, he said, adding “about 39% of developers make 25% of online sales, which we believe is will increase considerably this year”. The report highlights key concerns of the developer community, including controlling the cost of inputs, introducing a GST credit, increasing the availability of financing, streamlining and speeding up project approvals .

Among other major trends, the survey found that 92% of respondents are planning new launches in 2022. Up to 74% of developers surveyed want “ease of doing business”, 55% of developers will adopt VR in their business in 2022.

Online sales contribute up to 25% to the business of 39% of respondents. Around 65% of developers are ready to explore new business models in 2022 like co-working, co-living, according to the survey report. About 96% of developers would prefer to launch residential real estate in 2022.

The Confederation of Real Estate Developers Associations of India (CREDAI) is the supreme body of private real estate developers in India. Founded in 1999, CREDAI represents more than 13,000 developers in 221 municipal chapters in 21 states.

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