Monday, July 13th, 2020

Festive Season : A sign of revival for Real Estate Sector

reINVC NEWS Gurgaon, The real estate sector is expected to show signs of revival during this auspicious festive season. After the prolonged slump in the realty market, the festive season is about to bring cheer as this is the time buyers want to make new purchases and investments. It is the perfect time to buy your dream home, as developers are giving attractive offers and discounts to its buyers. The Delhi/NCR region is more receptive than ever before, for investments in the commercial segment. After approximately 46% absorption recorded in the first half of 2016 in Delhi/NCR for the office space, the commercial segment is only expected to go up. Mr. Ravish Kapoor, Director, Elan Group said that the real estate market has been sluggish but there is a definitive sign of recovery with the new reforms. With the onset of the festive season, the sales are expected to go up. The recent reforms in the policies such as RERA, GST etc will strengthen the real estate sector and the buyers and investors will regain confidence in it. The festive season will be auspicious for the realty sector and bring a boom. The commercial realty will definitely see a steady rise. There is an increase in the buyer inquiries this festive season. As the real estate market is regaining its ground, there are more no. of people interested in investing into property. With the recent reforms such as GST, RERA etc the buyers and investors have gained their confidence back in the real estate. There has already been a visible improvement in the residential sector with the sales picking up by nearly 10-12%.  This is the best time for residential sector as people make new investments and purchases during this festive time.

A Gurgaon based real estate developer, MAPSKO’s Director, Rahul Singla said that festive seasons are also considered auspicious hence it is expected that the real estate will regain the lost ground. Though, a lot many other factors would contribute to this positive outcome. Gurgaon has grown on to become the Millennium city, but any further growth requires space and space is to be found in the newly developing areas of Gurgaon. The New Gurgaon and Dwarka expressway area are bound to see unprecedented growth in the coming days as the roadblocks to land acquisition has been cleared in New Gurgaon and the Dwarka expressway is about to be granted the National Highway status. “Festive season has always been encouraging for the real estate market as a lot people believe in investing during these auspicious occasions. Buyer sentiments has improved towards Real Estate sector especially for the near completion projects and we hope festivities with further enhance it” added Mr. Vivek Singhal, President ( Corporate Strategy), M3M Group.



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