Though the lockdowns and travel restrictions may have hit the strength of the real estate market, it has been successfully recovering over the last few months. The MMR (Mumbai Metropolitan Region) witnessed the highest number of real estate registrations in July since the last decade. There were 9000 registrations in Mumbai alone. There has been a huge demand for homes and this is only because of the innumerable positive factors associated with it during these current times. The number of world-class projects in Mumbai, Pune, Bengaluru and Kolkata have tremendously increased, offering a market that is so customer-friendly. Research has it that the homes for sale post the vaccination have led real estate builders to pick up from where they left off pre-pandemic.
Realtors are very well aware of the pandemic’s know-hows and are better prepared to deliver the best, making real estate more of a buyer’s market.
The number of new project launches offered by different real estate builders have spiked by 33% Quarter-on-Quarter in Mumbaiand by 47% in Bengaluru. Mumbai has been the largest contributor to sales since the last 5 quarters. The registrations were 16% higher in August 2021 as compared to the pre-pandemic period of August 2019.
It has been proven time and time again that homes are the most reliable source of stability and security even in the most uncertain times. This reinforces buyers and leads to an upward demand for homes. Also, the all-time low loan rates, reduced interest rates, tax benefits and stamp-duty waivers sanctioned by the government have been the major motivations towards increased housing demand and supply.
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The real estate in Mumbai has literally roared back after the slump. The pandemic has convinced thousands into believing how important it is to have your own roof to live under. Besides, the new trends like online schooling and work-from-home have improved the statistics of the numbers of homes for sale. Purchasers are no longer diffident about buying homes with the leading realtorseven at premium prices in top-notch localities of the city. If you are seeking to book a new home, then opting for a spacious apartment with state-of-the-art amenities and a self-sustaining society would be the best bet to live a good balanced lifestyle. And there can be no better time and no better price than now to invest in a new residence! The number of approachable real estate builders who will offer you the best of everything in a single development have only increased since the last few months. These real
The Maharashtra Government’s decision of cutting down stamp duty on registered real estate properties has significantly increased the demand for homes in India. The interest rates transmission has also greatly improved.
Also, to encourage the buying spirit amongst women, the Maharashtra government declared a 1% concession on the existing stamp duty rates which boosted sales amongst women home buyers. All these positive factors led to an utterly bright scenario in the world of real estate with new project launches increasing by 71% between January and June 2021. Research has shown that the buyer’s enthusiasm to own a home has been much higher now than ever. Even the top real estate builders have reported superior homes for sales figures since the last few months. They have realized the importance of their clientele during the downfall of the pandemic and have resolved to only deliver better than before. The new project launches offer everything possible to meet the buyer’s new expectations. The concept of home ownership has gained impetus especially amongst millennials. They are opting for properties that are ultra-spacious with dedicated work-from-home spaces, all-inclusive amenities and addresses connected to top-notch conveniences.
The number of NRI investments have also witnessed a dramatic increase. The uncertainties around the world owing to the pandemic has shifted the NRIsentiment towards investing in India. With the deposit rates standing at 6-7% and the reasonable value of rupee against the dollar has led NRIs to actively seek for real estate opportunities in India. The pandemic also induced the interest of virtual visits to world-class projects across metropolis cities in India. This also allowed the NRIs to cruise, select and book with ease online in spite of being far. The NRI investment in the real estate sector has been estimated to reach around $15 billion by 2022.
The year 2021 has seen a massive pick-up in terms of property sales in eight major cities across the country – Pune, Mumbai, Ahmedabad, Bengaluru, Chennai, Delhi, Kolkata and Hyderabad.
If you are seeking to invest in a new home during this period, there are only positive reasons to back your decision
- Multiple real estate builders across different parts of the nation are offering attractive discounts and seasonal sales on their properties to ease overall pricing
- With a more customer-conscious sentiment, the quality of construction, interior spaces and amenities offered by most builders is far more superior and avant-grade
- Your home will always stand the test of time and will sustain as an eternal fortune
- The returns from real estate have withstood volatile market conditions and showed no signs of weakening even during the pandemic
- You can enjoy the lowest interest rates on some of the best properties
- The availability of affordable homes has witnessed a spike, giving you the liberty to spend on a new home yet save a considerable sum
- The RBI has released a new tax relief system for first and second home owners which proves to be a great relief
- Considering the new work-from-home culture, investing in a new home with a comfortable dedicated working space may not be a bad idea at all
- New-age technology offered by realtors, improved energy in real estate operations, demand for more spacious apartment sizes and single-floor apartments and keeping up with the latest market trends has made real estate look like the most reliable and upcoming asset ever
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