The residential property market is witnessing a significant shift in buyer preferences, with 34% of buyers now preferring newly launched projects in the first half of 2026, compared to only 18% expressing preference for ready-to-move-in homes, according to Anarock's Consumer Sentiment Survey. This represents a complete reversal from H1 2022, when ready homes led with 30% favoring them against 25% for new launches. Buyer confidence in timelines governed by the Real Estate (Regulation and Development) Act, 2016 (Rera), along with wider choice of larger homes and the reputation of large, listed developers, are driving this trend. As reported by Anuj Puri, chairman of Anarock Group, this shift aligns with a broader multi-year trend where the share of fresh launches in actual sales across the top seven cities has been rising steadily.
Redevelopment projects promise residents modern homes with larger spaces, better amenities, and improved facilities. However, according to reports from Mint, residents must complete thorough due diligence before handing over possession of existing buildings. The evaluation should extend beyond financial offers to include examination of the developer's track record, particularly in completed redevelopment projects, and verification of whether construction was finished within promised timeframes. An independent feasibility assessment can provide clarity on development potential and assess whether proposed terms are commercially and technically realistic. Anuja N. Mukerji, partner at Aquilaw, emphasizes that buyers should verify the project's Rera registration, sanctioned plans, approvals, proposed completion date and disclosed encumbrances, as Rera registration provides important safeguards but does not certify title or replace independent legal due diligence.
Residents should avoid relying on verbal assurances and ensure redevelopment agreements include specific completion deadlines, expected timelines, and consequences for developer delays. As reported by Mint, the agreement should address compensation for delays and establish remedies available to the society if construction is substantially delayed or stops altogether. The documents must clearly specify carpet area of new apartments, apartment specifications, facilities, parking entitlements, and all promised financial benefits with applicable payment schedules. Legal professionals should review the agreement before signing, and where applicable, residents should consider financial safeguards such as bank guarantees or security mechanisms. Sanjiv Bajaj, joint chairman and managing director of Bajaj Capital, notes that construction-linked payment plans may be preferable as payments are more closely aligned with actual project progress, though buyers should carefully assess total costs over the loan's lifetime rather than focusing only on initial monthly outgo.
Temporary accommodation during redevelopment represents a significant practical concern for residents. According to Mint, the agreement should clearly specify monthly rent or transit accommodation support, payment dates, and the period for which the developer will provide payments. Residents should consider whether rent will increase periodically, as delayed projects may cause local rental rates to rise, making fixed rent insufficient for comparable accommodation costs. The agreement should also record any shifting charges, brokerage expenses, or other payments the developer has agreed to bear. Anuj Puri, chairman of Anarock Group, points out that under-construction properties also attract goods and services tax (GST), adding to overall costs, making it crucial to verify the project's Rera registration and check the developer's record of completing projects on time before committing money.
Once the redevelopment agreement is executed, residents' responsibilities extend beyond signing to continuous monitoring of construction progress, regulatory approvals, and compliance with agreed milestones. As reported by Mint, societies should track rent payments due to residents and address any signs of slowing construction, missed milestones, or delayed payments promptly. Regular communication between the developer, society committee, and residents can help identify problems at early stages. Residents generally have greater negotiating leverage while occupying existing homes, making pre-vacation due diligence crucial for adequate protection. Anuja N. Mukerji, partner at Aquilaw, advises buyers to check the timelines and quality of past projects, speak to existing homeowners where possible, and review Rera and court records for delays, extensions or litigation, noting that reluctance to share information, inconsistencies in documents, repeated delays and demands for payment before construction begin are warning signs.
