Indian real estate sector to recover faster than expected
It is important to understand the downfall, recovery, and growth patterns of the residential segment market in the past decade. The lockdown happened just when the residential market was in demand for the two successive years and then it came to a near standstill for a few months during the lockdown. However, realtors remained in touch with the end-users after realizing the enhanced need of the people to have a property of their own. Going forward, the maximum number of end-users as well as investors will prefer homes that take care of the social distancing in addition to providing financial security.
End-users as well as investors are also showing readiness to pay a premium for homes that would include a wellness idea. The coming time will require constant policy support and economic stabilization so that the market remains upbeat.
Vikas Bhasin, MD, SAYA Homes, “It is good to see that customers are coming up with their queries and the demand for housing is coming in track. Besides, to ensure the operations in a smooth manner as well as to help the customers, realtors are also coming up with various schemes and easy modes of payment methods.”
According to Harvinder Singh Sikka, Managing Director Sikka Group, “No doubt in saying that there was a financial imbalance due to national lockdown, which was necessary considering the spread of global pandemic. But now it has been observed that there is a good query to sales conversion ratio, which is a positive sign for the sector.”
Dhiraj Bora, Head Marketing and Communication, Paramount Group said, "As per the present situation real estate sector is coming with various schemes & offers and are pushing even the fence-sitters to come forward.”