The Fraternity Stands United to Tackle COVID-19

The Real Estate industry has always looked forward to March, where festivals like Navratri, Gudi Padwa & Ugadi, etc. have resulted in more sales. This has also enabled companies to end the year at a high note.  

However, things are different this time. The outbreak of COVID-19 has brought all economic activities to a standstill. The Real Estate industry is also feeling the heat, where sales have been affected in the wake of the recent lockdown. 

Despite being badly hit, it is laudable how the industry is fighting together. Most of the Real Estate companies are in Work from Home (WFH) mode to maximize social distancing. Yet, we are trying our level best to engage with customers through teleconferencing, video calls & other innovative ways. Most of the operations & training modules have also been made online to ensure maximum efficiency.

The Mantra is clear –Things can’t come to a complete halt. If not run, then at least we will keep moving. 

After all, an industry that constitutes 8% of the nation’s economy can’t pause. It has to move somehow. A complete shutdown would not only affect the sector but will also reverberate across other parts of the economy. 

As an industry, we have faced many challenges in recent times such as Demonetization, RERA, GST & the NBFC crisis. However, we were able to absorb the shockwaves. We are hopeful that like others, this shall also pass. Not only we will contain the damages caused by COVID but will bounce back more strongly. 

Sooner or later, our hard work is going to pay off! 

Already initial research has suggested that once the crisis will abate, housing sales will pick-up very fast. Buyers who were willing to purchase during the festive season will eventually come back. The repo rate cut by RBI will further revive the sentiments. 

The lockdown has also triggered the need to invest more in digital platforms such as e-meetings, virtual & augmented realities to facilitate digital site visits & online transactions. There is a pressing need to invest more in online innovations so that we can de-risk potential threats such as COVID to a great extent in the foreseeable future. 

Till then let’s all try whatever we can do in our limited capacities. Make the most out of this time. Spend time with your near & dear ones, do self-introspection & indulge in your hobbies. Also, take care of your health & follow all the precautionary measures.