With the rise of EV vehicles in India, the real estate owners of the residential projects and housing societies are facing a new kind of challenge to meet the demands of EV charging stations. This challenge is in their recently delivered projects and even in the under-construction projects.
Whether the government makes setting up the EV stations in housing societies is another story, many new projects do not have the viability for EV stations. It can be because of different constraints whether technical, or space availability, or even financial reasons. It impacts their sales strategy if EV stations are part of the buyers’ criteria when they search for a new home.
The real estate as an industry is growing and the project owners in the same region are competing for the same buyer segments. Whether it is in Metros or tier-2 and tier-3 cities such as in Chandigarh and Mohali, responding to this demand by the customers might be a differentiator with the residential property owners.