{"id":9,"date":"2016-07-31T04:18:27","date_gmt":"2016-07-30T22:48:27","guid":{"rendered":"https:\/\/settlin.in/blog\/2016\/07\/resale-the-reality-of-realty-1eadfde0a1b1\/"},"modified":"2020-05-28T11:51:03","modified_gmt":"2020-05-28T06:21:03","slug":"resale-the-reality-of-realty","status":"publish","type":"post","link":"https:\/\/settlin.in/blog\/resale-the-reality-of-realty\/","title":{"rendered":"RESALE\u200a\u2014\u200aThe Reality of\u00a0Realty"},"content":{"rendered":"

I have subscribed to Google news on real estate. I get around 6 news items daily. But since the last 6 months, of the 1080 articles, I have not seen more than 3 articles on the secondary markets.<\/p>\n

\"Settlin\"
Resale markets are unable to compete with the\u00a0primary<\/figcaption><\/figure>\n

Secondary market\u200a\u2014\u200awhat and\u00a0why?<\/h4>\n

Secondary real estate market comprises of everything that\u2019s not primary. It is an anti-definition, but a lot easier to understand. Primary market is the market of all newly built apartments which are being sold by the developer himself.<\/p>\n

So secondary market is everything else. Any house, plot, apartment, villa, sold by any individual owner constitutes a secondary or resale transaction.<\/em><\/p>\n

That sounds big, doesn\u2019t it? It is.<\/p>\n

In Bangalore alone, 60% of all the transactions are resale. Now think of the Tier II, III, IV\u2026.. cities, where there are hardly any developers.<\/p><\/blockquote>\n

How is resale in real estate different<\/h4>\n

The simple truth is that land is a finite commodity. Builders can buy ( a resale transaction in itself! ), build and sell. But it will again be sold by the owner. In the end, during the lifetime of a property, while a primary transaction happens once, the secondary transaction may be done at least 3 times.<\/strong><\/p>\n

Additionally, real estate is the only commodity where resale prices are higher<\/strong>!<\/p>\n

This means that if a flat is being sold at \u20b9 100 by the builder, in its lifetime, it will further attract at least \u20b9 1000 investment.<\/p><\/blockquote>\n

Still resale is neglected<\/h4>\n

Because 100 is lot more easier to track and invest than the 500.<\/p>\n

    \n
  1. Lack of organization
    Builders have lobbies, individuals don\u2019t.<\/li>\n
  2. No institutional investment
    All resale properties are localized single entities.<\/li>\n
  3. Scattered data
    The sales are huge, but non-uniform and scattered. Most of the state governments have e-records for land, but in different formats and not integrated.<\/li>\n
  4. Data is unavailable to public
    An RTI will not get you the data from sub-registrar offices. They keep records as isolated transactions, and it will cost a fortune to organize them.<\/li>\n<\/ol>\n

    The outcome of\u00a0neglect<\/h4>\n

    A resale transaction becomes extremely difficult. While primaries are being done at a button click, the resale takes months to happen. A resale transaction is 100 times more effort and time than a primary one.<\/p>\n

    Restore the\u00a0balance!<\/h4>\n

    Let\u2019s bring resale in the limelight.<\/p>\n

    Thank you media, builders, brokers and classifieds! You have deliberately left a space that has so much potential. We, at Settlin, will definitely leverage it.<\/p>\n

    Data and transaction, both are equally crucial for this market. We are handling them both in an innovative way. By June 2017, entire Bangalore will experience hassle-free resale transaction at their finger tips.<\/p>\n

    \"Settlin\"
    Resale markets are unable to compete with the\u00a0primary<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

    I have subscribed to Google news on real estate. I get around 6 news items daily. But since the last 6 months, of the 1080 articles, I have not seen more than 3 articles on the secondary markets. Resale markets are unable to compete with the\u00a0primary Secondary market\u200a\u2014\u200awhat and\u00a0why? Secondary real estate market comprises of […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","footnotes":""},"categories":[4,14,2,13,12],"tags":[],"class_list":["post-9","post","type-post","status-publish","format-standard","hentry","category-bangalore","category-owner-property","category-real-estate","category-resale","category-secondary-markets"],"yoast_head":"\nRESALE\u200a\u2014\u200aThe Reality of\u00a0Realty - Settlin<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/settlin.in/blog\/resale-the-reality-of-realty\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RESALE\u200a\u2014\u200aThe Reality of\u00a0Realty - Settlin\" \/>\n<meta property=\"og:description\" content=\"I have subscribed to Google news on real estate. 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