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Sobha Real Estate Best Practices Audit: 2017 Report
By PropertyGeld Editorial Team
Published on PropertyGeld:
Sobha Receives Recognition for Real Estate Best Practices
The Indian real estate sector has increasingly focused on transparency, customer service, professional management and responsible business practices. Against this background, Track2Realty conducted an extensive study examining how major real estate companies were adopting various industry best practices.
In the 2017 report, Sobha Limited was placed at the top of the assessment, followed by Godrej Properties and Prestige Group. The study evaluated developers using several business and consumer-focused parameters.
What Did the Audit Evaluate?
The assessment covered 100 major real estate companies selected using factors such as market size, market influence, differentiation, investor preference and public perception.
Developers were examined across 10 broad parameters, including:
Financial management
Project execution
Market presence
Customer engagement
Transparency in transactions
Professional management
Customer care
Employer practices
Communication
Adoption of desirable industry practices
Each category included several sub-parameters to provide a broader assessment of how companies operated.
Public Perception Was Also Considered
The study did not rely only on company-level information.
A nationwide public perception survey involving 10,000 respondents was used to understand how consumers, investors, HNIs, NRIs and other stakeholders viewed real estate companies.
The assessment also considered public perception across multiple Indian cities.
Bengaluru Developers Featured Strongly
One of the notable observations from the report was the strong representation of Bengaluru-based developers.
The report noted that developers from South India, particularly Bengaluru, performed strongly against the national benchmark. Companies such as Sobha, Prestige, Brigade and Puravankara were among the Bengaluru-based names featured in the leading group.
This made Bengaluru an important market in the discussion surrounding real estate business practices.
Sobha's Performance
According to the 2017 assessment, Sobha received an A+ rating with a positive outlook and performed strongly across several of the evaluated categories.
The company ranked highly in areas including:
Project execution
Customer engagement
Transparent transactions
Customer care
Communication
Desirable practices
The report therefore highlighted the company's approach to customer-facing and operational practices rather than evaluating only the number of projects or market size.
Company Size Was Not the Only Factor
An important observation from the audit was that company size alone did not determine performance in best-practice adoption.
The assessment included both large established developers and companies with smaller portfolios.
This approach allowed the report to compare companies based on their practices, consumer perception and other defined parameters rather than relying solely on their market size.
Real Estate Sector Still Had Scope for Improvement
The study also pointed out that India's organised real estate sector still had significant room to improve its adoption of globally recognised business practices.
Areas such as transparency, customer communication, project execution and professional management were becoming increasingly important as homebuyers became more informed.
The report suggested that developers adopting stronger consumer-focused practices could become better positioned as the market became more transparent and regulated.
North Indian Market
The assessment also examined developers operating in North Indian markets, including:
Noida-Greater Noida
Ghaziabad
Gurugram
Faridabad
The report observed differences in the adoption of best practices across these markets and included developers such as DLF, ATS, Sobha, Mahindra Lifespaces and others in its regional assessment.
Broader Importance for Homebuyers
For homebuyers, factors such as the following can be important when evaluating a developer:
Project delivery record
Transparency in agreements
Customer service
Financial stability
Quality of construction
RERA compliance
Communication with buyers
After-sales support
A company's awards or rankings can provide historical context, but buyers should independently verify the current project status, approvals, RERA details and developer track record before purchasing.
Conclusion
The 2017 Track2Realty audit was presented as an early detailed attempt to examine best practices across India's organised real estate industry.
Sobha, a Bengaluru-based developer, was placed at the top of that particular assessment, while several other developers from Bengaluru and South India also featured prominently. The study covered companies across multiple Indian markets and used business metrics along with consumer perception to assess industry practices.
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