Investment In Real Estate Housing Sector Has Increased After Covid-19

Covid 19 pandemic has severely shaken up the entire world, no sector has been unaffected by this coronavirus. People migrated from their residential areas, unemployment rose dramatically, lives were lost, the Education system got shattered and chaos spread all around the world. The impact of the novel Coronavirus on Indian real estate has been anomalous. In the quarter of its outbreak, it brought construction activities under a shell and significantly vanished the market of its potential buyer-base. Amid COVID-19, we have noticed that all the sectors, including the real estate sector, have been impacted.

This crisis has raised the need for the real estate sector to analyze the market and incorporate strategies to align with the “New Normal'' with innovative and logical measures. The real estate market in India is one of the strong pillars of the economy, it is generating employment opportunities for the people and maintained the 2nd position in the country after agriculture in terms of employment opportunities. The sector is amalgamated into as many as 220 sectors. The sector contributes to nearly 6-7 percent of the economy and is set to increase up to 13 per cent by 2025 if all reform measures that have been addressed are executed well.

As the nation is positively opening its wings after the lockdown, the real estate markets have also started their healing process. According to several leading research reports, India’s residential real estate market is getting back to shape with a massive return of serious homebuyer inquiries which dropped to 50 per cent during the pre covid times.

Interestingly, Bangalore is leading the nation in terms of real estate recovery, and current inquiries have raised to 70 per cent for the first quarter, followed by Gurgaon at 65 per cent. Real Estate giants like MVN Infrastructure having ascendancy in Faridabad and Gurgaon are grooving into Bangalore with their emerging project near Devanahalli, MVN Aero One, just to be the part of this speedy recovery of real estate in Bangalore. Bangalore is leading for a reason as the development rate is faster in this city due to the presence of IT companies and real estate firms are offering the best apartments in Bangalore with attractive prices post covid 19. The pandemic will affect buyers' preferences in terms of choice of real estate: larger facilities with higher safety, hygiene, and ensnared amenities may find their way to attract more takers. In terms of commercial real estate, satellite offices in non-conventional micro-markets, i.e. outside the Central Business Districts will be consumed faster and more effectively.

There are significant reasons for the real estate sector to boom this year and with this article, you will be going to know the facts that will immensely improve the real estate housing sector. The conditions that boost the recovery of the real estate sector are as follows.

#1. Inherited Technology

There is a major shift towards the acceptance of online portals for home search; people who preferred offline property search are now preferring online real estate portals to search their dream homes. There has also been an increased demand for virtual tours or visits to shortlist the flats and most home-buyers are opting for virtual tours because of safety reasons and this should be incorporated into the normal routine for finalizing the deal.

Bangalore is leading in this new change and the builders have taken it seriously and have come up with ready to move flats in Bangalore that includes all the amenities with priority over the safety concerns. This progression requires a great deal of experimentation and implementation of smarter technologies like Artificial Intelligence, home automation, virtual tours for real estate firms.

It is commendable that the builders have taken their customers concerns as the top priority and especially in Bangalore firms like MVN Aero One are incorporating the norms of social distancing, mobility, and hygiene while planning and implementing projects and emerging as one of the top firms near Devanahalli, offering best ready to move apartments in Bangalore.

#2. Government New Norms

The Central bank has announced that there will be cheaper home loan interest for this year 2021 and this news has spread like a wildfire over the entire country and attracting potential investors towards the real estate sector.

The Central bank has announced that there will be cheaper home loan interest for this year 2021 and this news has spread like a wildfire over the entire country and attracting potential investors towards the real estate sector. The Central bank has announced that there will be cheaper home loan interest for this year 2021 and this news has spread like a wildfire over the entire country and attracting potential investors towards the real estate sector.

Government initiatives like Atmanirbhar Bharat and the FDI increment are pointing towards a strong recovery of commercial real estate towards the second half of the year. All these heavy facts conclude a simple thing, customers will go to get their dream homes easily now as compared to the pre covid situation.

#3. The shifting mindset of People

With the current scenario, we are witnessing a shift in consumer behaviour and millennials are looking to buy residential properties in the mid and affordable segment rather than opting for rental apartments. It was mentioned in a report that Bangalore has received record-breaking queries for mid-range 3bhk apartments in Bangalore for sale in this previous month. This shift has prevailed because of government initiatives like Pradhan Mantri Vikas Yojana, a decrease in reverse repo rate, and RERA deadline extension. All of this has motivated the customers to strive for their own residence.

Depending on your budget you can avail the apartments at very reasonable prices be it 1/2/3 BHK flats. With the current scenario, the larger the investment, the larger will be the return. As WFH(Work From Home) is becoming the new norm, people are looking for value for money investment rather than lavishing high-end investments.

#4. Changes in Real Estate Players Strategy

Home Buyers tend to steer away from high-cost townships offered by local real estate players and opt for Value Homes at reasonable prices by National Real estates Players like NBCC and Omaxe. This means that builders will have to include more investments and upgrade their manufacturing technology for their townships. Many firms like MVN Infrastructure are implementing this strategy and offering affordable value for money flats near the Devanahalli area in Bangalore. Keeping all the safety precautions the township is offering, ready to move flats for their customers so that the customer should not have to worry about the whole set up process. You just need to invest your money and get the final output in no time.

Conclusion

All of the reasons have given a great push to the investors for investing in real estate housing post covid 19. It is said that for a long jump you have to take a few steps backwards, this coronavirus forged the real estate sector to push back but along with that provided sufficient time to adhere to the changes and bounce back with full intensity. As soon as things will get back to normal the real estate sector will shine even more and contribute to our economy.