Real Estate Trends Post Pandemic
Real estate sector is one of the most promising sectors of any economy. Real Estate comprises of primarily four segments viz. Commercial, Hospitality, Retail and Housing. The growth of Real Estate sector constitutes the demand and sale of space in Office, Retail, and Housing space and so on. Recently the concept of affordable housing has been popularized by Indian government which can reach to the lower middle class and the underprivileged who could not afford to own a house of their own.
Investment in Indian Real Estate
The Real Estate Sector of India is going to boom again in near future with large scale Investment by Non Resident Indians, Foreign Investment in form of FDI’s, Private Equity Funds, Institutions, etc. Construction sector needs to revamp their operations with more safety measures for their workers and follow all the necessary guidelines as required by regulatory authorities.
Warehousing space is expected to reach 247 million square feet in 2020 and see investment worth Rs. 50,000 crore (US$ 7.76 billion) during 2018-20. Grade-A office space absorption is expected to cross 700 million square feet by 2022, with Delhi-NCR contributing the most to this demand. In the year 2019, the sale of apartments or units had reached 2.61 lakh across the seven major metro cities. Home sales volume across eight major cities in India jumped by 2.5x to 33,403 units from July 2020 to September 2020, compared with 9,632 units in the previous quarter. This change entails healthy recovery post the strict lockdown imposed in the second quarter due to the spread of Covid 19 in our country.
The initiatives taken by Indian government to build 100 Smart Cities is a right opportunity doe the real estate companies to channelize their synergies in accordance with the development of Tier 2 & Tier 3 cities. Similarly the development of Infrastructure sector with Railways, Ports, Airports and Highways is going to push the demand further for the development of Real Estate sector. Hopefully the government will keep on introducing various initiatives time to time in order to bolster the momentum of growth further.
Effect of Covid 19 Pandemic on Real Estate
As we all know that we all got stuck up in some way or the other in 2020 in which most part of the year got entangled due to lockdowns severely jolting the Real Estate sector pan India. As also the entire industry got under the wheels of the pandemic which resulted in almost slowing down the Indian Real Estate industry which has had lately revolutionized itself after the Indian Government has allowed up to 100% FDI into housing and townships. Under housing for all scheme the government has laid down the strategy to build 60 million houses, 40 million in the rural areas and the rest 20 million houses in the urban areas.
We have now forayed into the first month of 2021, we explore some positive signals in the New Year which may bring back on track the growth trajectory of real estate sector in India.
Due to lockdowns and impending slowdown in the economies of the world, the Real Estate sector has been hit hard as well. The Malls were closed down, Hotels & Commercial buildings remained vacant for many months, and inventory of residential apartments bloated up and had a severe impediment on the lease and rentals as well. But as the major economies of the world are planning to bounce back into the mainstream once again with more thrust and an optimistic roadmap. India is now preparing to join into the bandwagon once again and infuse fresh energies into the real estate sector in the year 2021. The gap created due to this sudden crippled the construction sector which ranks third among the 14 major sectors in terms of direct, indirect and induced effects in all sectors of the economy.
Road Map to New Optimism
Last but not the least, the Indian developers are now gearing up with the challenges to focus on becoming professionally managed enterprises from the family owned businesses. They are streamlining their operations in alignment with the global practices and benchmarking of processes in order to build stability mechanism and transparency into the system. With this they are hiring well qualified professionals who are adept in Architecture Design, Procurement, Project Management and Construction Management. With these synergies the outlook seems to be quite upbeat and nevertheless we all need to rejuvenate ourselves in this transition period and remain optimistic. Looking forward to new enthusiasm and vigour in 2021!
Today the market is flooded with many portals that offer you solutions in space selling and buying in Retail, Residential and Commercial Sectors but there is one portal Kagaay which is a ‘gamified’ sales platform for Real Estate Developers to showcase their properties to honest and genuine customers who are looking to invest in ‘right’ Real Estate property. The platform also offers different activities which can pull in the customers like Draw of Lots, Lucky Draws, Flash Sales, E-auctions and so on. The Developers can showcase their properties and generate more sales and at a faster pace. The properties can be advertised in a manner which can showcase the hard work and efforts put in by the Developers to add real value to the ‘price’ of the property.
Why should one consider Kagaay?
- Completely Transparent and fully automated system to connect the buyer and seller
- Confirmation of Sales is achieved once the customer has paid a minimum confirmation amount towards the sale of the property. This App gives complete confirmed sales of Inventory to the Realtor
- Time Cycle of Sales is reduced to as less as just 3 days only from the normal 30 to 180 days which happens in a normal process
- Simplified Process like 1-2-3 for Realtors
- Kagaay App is a Dedicated Sales Engine which leads to hassle free Sales conversion saving lot of precious time and efforts which happens in general with other Apps.
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