DLF,the country’s largest real estate company is going to adopt a pricing model that resembles book-building in initial public offers (IPOs) of shares, using a process to test the market while pricing.With an uncertain demand situation in the real estate industry, pricing practices are taking a novel turn. Only the style is informal unlike in shares, in which a price band is set and formal offers are invited. The company which earlier used to set property price internally is now surveying buyers to arrive at a price for forthcoming projects. DLF’s authorised brokers and property consultants are collecting feedback from prospective buyers on what should be the price of the project by sending out mailers, text messages and in some cases, making personal visits.
“The purpose of the survey is to decide how many flats to launch and set good prices, which are attractive and value for money,” said Rajeev Talwar the executive director at DLF.
“The purpose of the survey is to decide how many flats to launch and set good prices, which are attractive and value for money,” said Rajeev Talwar the executive director at DLF.
