Real estate industry in the wake of covid 19

Real Estate Industry across India has faced a drastic slump after the Covid-19 outbreak. It affected the sales of residential properties and also made a huge dent in the leasing and sales of commercial properties across the country, leading to extreme liquidity crunch for the builders.
In the wake of the adverse effects of the pandemic worldwide, varied expert opinions are flowing out on COVID-19’s impact on the real estate sector. “Work from Home” has become the need of the hour globally keeping in mind the health emergency across the world ; has posed a question to the relevance of workspaces in a post-pandemic world.
In India, the economic slowdown and prolonged lockdown points towards a slow, delayed and snail-paced start of the long and arduous road to recovery.
Several small but promising economic indicators have shown a positive upward trend from September 2020 onwards. The ongoing festival season is also critical. We are on the path to a sustainable recovery and it will help in determining the growth graph in the coming year.
As the country is slowly but progressively opening up after the lockdown, the real estate industry is also on the recovery path. The expert market research opines that India’s residential property deals are picking up pace slowly as serious buyers are returning to the market. The enquiries have seen a decisive rise which are at 50 percent of the Pre-pandemic levels in tier 1 and tier 2 cities.
Interestingly, Bangalore leads the country in terms of real estate recovery, with a return of enquiries to 70 percent of the January-February period, followed closely by Gurugram at 65 percent.
It has been observed that when domestic real estate buyers are still preferring to observe the market trends for some more time, the NRIs are actively inquiring into and indulging in sales and purchase of the property deals available. This could be because of weaker rupee rate, affordable housing loan rates and also return of numerous Indians to India in the course of pandemic evacuations worldwide. The second category of inquirers and buyers are the ones who are looking for investment opportunities by purchasing luxury homes or beneficial deals in premium properties. The inquires are also on the rise for high valued plots and land.
This trend is lucrative for both the buyers and sellers as the buyers are interested in owning assets while the sellers or developers are reaping the benefits of liquidation.
ARS Realty- the name to reckon with- is helping both buyers and sellers with the sale and purchase of high end premium properties in Gurugram be it residential or commercial.

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