Brand Ambassadors for the Real Estate Sector

With the changing times and to keep up with the fast growth of the realty sector there has been a demand for new and innovative marketing concepts. The popularity and the pan-Indian appeal of celebrities have made the real estate firms to rope-in popular silver screen stars like Kangna Ranaut, Twinkle Khanna, Rajeev Khandelwal, Prachi Desai, Sushmita Sen and cricketers like Mahendra Singh Dhoni, Yuvraj Singh, Virender Sehwag, Suresh Raina, Praveen Kumar as their brand ambassadors.

The thought of making celebrities as brand ambassadors also hint about the ambitions of realty firms to put their foot on uncharted territory in the country by using the power of these celebrities. It even becomes easier for real estate brands to grab eye-balls and do promotion with the star power of these celebs. The concept from its inception at a nascent stage in the NCR, has taken up the sector by storm.

Assotech has signed with former Miss Universe and film star Sushmita Sen. Amrapali Group, another major realty player, has signed up with Mahendra Singh Dhoni as its brand ambassador. Supertech has signed on filmstar daughter of noted superstar Rajesh Khanna, Twinkle Khanna.

Kangna Ranaut is going to endorse projects of Ajnara India Ltd. Ashok Gupta, the managing director of Ajnara India Ltd, says: "Ajnara is a brand which offers affordable to luxury housing options with quality and bring high levels of professionalism to the trade. Kangna is one of the very few actresses who have achieved stardom in Bollywood in a very short span, though coming from an ordinary family. She is today the epitome of style and fashion, yet so humble. We believe that this would help our brand connect with our buyers well."

The basic idea behind having a brand ambassador is that it makes it easier for people to get connected with the developer.

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How this budget can make housing affordable?

The budget which was presented earlier by our Finance Minister Pranab Mukherjee has disappointed developers. Stakeholders are eagerly awaiting for this year's budget to give a boost to the property market. The major reason for of the negative outlook for the real estate sector has been the increasing cost of debt to both developers and property buyers.

There is a high demand to promote special residential zones (SRZs) and liberalization on floor area ratio (FAR) for which the Finance Ministry has to take an action and make housing affordable and a viable business proposition for developers.

Bank financing has to become much more cheaper and easier to give the real estate sector a much needed momentum. To make housing more affordable opening up of external commercial borrowing in real estate is required. As more and more foreign investors are getting interested in the Indian real estate, there's a need for liberalisation of norms for repatriation of foreign direct investment to be done. In this budget one should also expect a revamped urban renewal mission to address the serious issue of rising urban infrastructure.

The RBI has asked banks to exclude stamp duty, registration fee and other levies from the total cost which means now home buyers have to arrange for this money by themselves and won't be included in home loan. But, the National Housing Bank (NHB) through its joint venture mortgage guarantee company will ensure higher credit availability at lower interest rates to home buyers.

Allowing foreign investment in multi-brand retail, extending external commercial borrowing limit, providing infrastructure status to townships, cheap finance, streamlining building approvals to prevent cost overruns, introducing real estate regulator, facilitating affordable land for low cost housing, reduction in minimum alternate tax for SEZs and measures to boost skilled manpower and other host of policy initiatives may put real estate on fast track.

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