Brigade Group has finally emerged as National Brand Leader of Indian real estate for the first time. The brand has always been closer to the top rank and has finally been voted as the Best Real Estate Brand across India. Prestige Group drops down to 2nd spot after 2 consecutive years of National Brand Leadership. Sobha Limited has improved its brand performance and pushes down DLF Limited to become 3rd Best National Brand.
Signature Global makes a giant entry into the Elite league of National Real Estate Brand Leadership for the 1st time at the 8th Spot. Ashiana Housing is back among the top 10 national brands after a gap of 4 years. This is the first time in the 13 years of Track2Realty BrandXReport that 3 brands figure into National Leadership from North India.
Among the top 10 brands, 4 companies are from South India, and 3 each from West India and North India. The focus of all the large-size developers has in recent times shifted to North Indian markets. Godrej Properties is the worst performer of the fiscal year in the wake of rising consumer grievances; drops down to Number 10 from its previous brand rank at Number 6.
Lodha and Adani Realty exit the National Brand Leadership this time around.
East India top players
This has been a year of brand upheaval across the brand landscape of east India. Two brands – Merlin Group and Tribeca – have changed the brand Dynamics of the region this fiscal year. Merlin Group has replaced the erstwhile Brand Leader Ambuja Neotia. Merlin Group last figured into the Elite List of Top Brands in the fiscal year 2016-17. This is the 1st time that a brand has bounced back into the Brand Leadership at Number 1.
Most of the top brands of east India lost their respective brand rank with Merlin appearing as the new Brand Leader. Leader of east India, Ambuja Neotia is no more the brand leader of the region. Ambuja Neotia has been pushed down to number 2 this fiscal year after Brand Leadership of the region for 9 consecutive years. Tribeca enters into the league of top brands for the 1st time at number 6. Emami Realty and Hiland exit the Brand Leadership chart of east India.
West India top players
The west zone continues to be the most hyper-active Brand Landscape of Indian real estate. With more brands from south India and north India entering into west zone, the brand landscape is even more competitive now. Oberoi Realty is yet again back as the brand leader of the region. Lodha has been scaled down to number 2 this fiscal year. Pune-based Panchshil Realty enters the elite league of top brands across west zone at number 5.
Adani Realty has scaled up from number 7 to number 4 now. Godrej Properties continues to lose its brand cutting edge and has been scaled down at number 6 this time around. Piramal Realty and Rustomjee lose their brand rank by 1 spot each. Sunteck Realty and Hiranandani lose their brand rank by 2 spot each. Kalpataru exits the Brand Leadership of west zone this time around.
North India top players
No new brand could make entry into the elite list of Brand Leadership across north India this fiscal year. DLF continues to dominate the realty landscape of the region. County Group has strengthened its Brand Leadership across north India with its best ever score. The brand to watch out for across north India is Signature Global that has emerged as the 3rd best brand this time around. Signature Global has also made its entry into the top National Brand for the 1st time.
Ashiana Housing has been pushed down to Number 4 this time around. Godrej Properties has been the biggest loser across North India and drops down to number 7 this fiscal year. Godrej Properties is actually 1 spot lower than its JV partner, ACE Group, in the region. Gulshan Homz and ACE Group retain their brand rank at number 5 and 6 respecitvely. Eldeco scales up at Number 9 while Mahagun scales down to Number 10 this time.
South India top players
Brigade Group emerges as the brand leader of South Indian real estate landscape for the first time. This has been the best year for Brigade that has emerged as the national brand leader as well. Prestige Group drops down to number 2 this time around. Sobha Limited has also strengthened its brand leadership across South India to emerge as the 3rd best brand. Puravankara Group drops down to number 4 this time around.
Sumadhura enters the elite list of top brands across South India for the first time at 8th spot. Sattva Group is back among the top brands in the region after a gap of 3 years at number 9 this time. Casagrand loses its cutting edge to drop 2 spots and is now at number 10. Total Environment and Akshaya Homes exit the Brand Leadership of South Indian realty landscape. Godrej Properties has also lost its Brand Leadership considerably during the fiscal year.
Residential top players
Residential segment is more often than not the real barometer to assess the brand worth of real estate companies. This fiscal year has yet again been a witness to many changes in the residential segment of Indian real estate. Brigade retains its brand leadership in the segment yet again this time. Sobha Limited is yet again 2nd best brand in the segment.
Signature Global makes its entry into the elite league of Top Residential Brands across India. Signature Global also appears to be a brand to watch out, as it is operating across the budget segment of residential real estate now. This has been the 1st time that 3 brands from North India appear in the top 10 list of residential real estate. Oberoi Realty has scaled up as 5th best brand in the segment. DLF Limited has scaled up as 3rd best brand and Prestige has been scaled down to number 4 now. Godrej Properties exits the leadership chart of Top Residential Brands
Senior housing top players
Senior Housing continues to get more traction and many corporates are also planning to get into this segment. This segment is also gradually gaining ground as a lifestyle choice by the independent senior citizens. NRIs are also looking into this segment for post-retirement planning back home. Tier II and III cities are now more receptive to the concept of senior housing.
Ashiana Housing has set the benchmark and continues to raise the bar of expectations. Ashiana Housing hence continues to be the Brand Leader into this Segment. It is exemplary work in senior housing that has made Ashiana Housing back among the top 10 National Brands this fiscal year. No new brand could make inroads into senior housing this time around. Ashiana Housing is followed by Columbia Pacifica, Brigade and Antara in the brand ranking. Silverglades has improved its brand rank considerably and moves up from number 7 to now at number 5.
Super luxury top players
No other segment of Indian real estate has been a witness to as much hyper activity as super luxury segment. It seems every other developer wants to only launch super luxury. Even the brands known for affordable housing have got into super luxury housing. With housing price going out of the reach of common Indians, premiumisation is the key word today since only the rich can afford to buy. With this emerging reality, it has been interesting to see no new brand making it into top 10 list of super luxury.
DLF continues to be brand leader of the segment and has been in news for costliest apartment sale. Lodha has emerged as the 2nd best brand in segment. Prestige Group has scaled down to number 3 this fiscal year. Phoenix, Panchshil Realty and County Group scaled up respectively with their brand rank this fiscal year. Oberoi Realty and Piramal Realty have dropped down respectively this time around
Office space top players
Despite leasing activity increasing, Office Space Brand Ranking by and large remains less volatile. It is hence no surprise that no new brand could find its way into the elite league of top brands in the segment. DLF continues to be National Brand Leader of Office Space, and is yet again followed by Prestige Group. Embassy Group jumps up to number 3 this fiscal year. K Raheja Corp drops down to number 4 this time around.
Brigade Group moves up in ranking and is now 6th best brand in office space. Nucleus Office Parks drops down to number 7. RMZ and Panchshil Realty maintain their respective brand Rank at number 5 and number 8. The Phoenix Mills scales up as 9th best brand in office space. Hiranandani Group drops down to number 10 this fiscal year.
Retail space top players
Brand landscape of retail is fiercely competitive with margin of difference very little among the top 4-5 brands. The REIT seems to have changed the brand dynamics of retail chains in India with more and more mall operators looking to join the rally. The top brands are also leaving little room for any new player to enter into the elite league of brand leadership. Phoenix Market City continues to enjoy the Brand Leadership of Retail Segment yet again this fiscal year.
DLF has been yet again voted as 2nd best brand in the segment this time. Nexus Malls continue to attract traction and is now 3rd Best Retail Brand in India. Lulu Malls have also impressed this fiscal year and moves up to 4th Best Brand in Retail Segment. Brigade moves up in brand ranking and now stands at number 5. The Brand Name Prestige is getting overshadowed with Nexus and hence Prestige now ranks at number 6. Oberoi Realty, K Raheja Corp, Ambuja Neotia and Virtuous Retail retain their respective brand rank of last year.
Hospitality top players
Hospitality brand leadership is getting competitive with some of the top brands committed to invest more. It is hence surprising to see no new player emerging among the top 10 brands this fiscal year. The margin of difference is nevertheless not much among the developers committed to stand out in this Segment. Prestige Group is by far the National Brand Leader of Hospitality Segment with better brand score. Panchshil Group also maintains its 2nd brand rank with better brand score.
The giant performer of the hospitality segment this time around is Brigade Group that scales up significantly as the 3rd best brand. Brigade Group’s overall better performance across the segment has helped the brand to emerge as the National Brand Leader this time. K Raheja Corp scales up as 5th Best Brand of Hospitality Segment this fiscal year. Oberoi Realty slips from number 3 to number 6 now. Ambuja Neotia, Bennet & Bernard, Embassy Group and Sattva Group retain their respective brand rank of last fiscal year.
Home finance top players
Home Finance Segment is most fiercely clompetitive segment of brand ranking. This is also the only segment where bank’s overall fiscal performance is directly linked with the consumer experiences. SBI continues to be the Brand Leader of Home Finance for 3rd consecutive times. HDFC Bank that was earlier the brand Leader has somewhat regained its lost ground and scales up as 2nd Best Brand this fiscal year.
ICICI Home Finance slips down to number 3 this time around. Kotak Mahindra Bank makes a giant entry into top 10 brands at number 4 this fiscal year. Axis Bank is also star performer of the year and scales up 1 spot to be at number 5 now. Canara Bank moves up the Brand Leadership from number 9 to number 7 now. PNB drops down from number 4 to number 8 this year. Bank of India exits the Brand Leadership of Home Finance this time around.
Methodology
Track2Realty BrandXReport 2024-25 has relied on a hybrid model of survey; with 50,00 online respondents and an equal number of offline participants. It has been a mix of open-ended and close-ended questionnaires. The surveying method has been one-on-one interviews. Along with the random surveys on ground, we also relied upon the extensive data bank with us for an informed choice of discerning audience.
In our opinion, this was the best possible means to assess the brand perception, and the changing landscape of brand consciousness. In this representative sampling, Track2Realty could get the mood of the nation with a very heterogenous audience profile.
The methodology had been three pronged: in-house research with whatever information available in the public domain. In a business where the large universe of the brands is not listed; even debt not necessarily reported on the books; and the developers’ reluctance, denial, and/or non-cooperation in sharing data; the information gap does exist. However, the research team tracked all the developments through available information in the public domain and sources within the sector.
Second stage has been to collate the information and get into online and offline survey across India. The consumers were asked open-ended and close-ended questions to understand their brand consciousness, liking/disliking, acceptance/rejection, and future choices in the property market.
Finally, we also solicited the opinion of independent and neutral experts. In all this exercise, more than half the weightage was given to the consumer survey.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |
