Investment In Real-Estate
Aashray Homes
Aashray Homes is one of the leading real estate Platforms which provides you One Stop Solution for All Housing Needs.
COVID-19 AND ITS IMPACT ON REAL ESTATE
The pandemic had a terrible effect on business and day to day expenses. Covid-19 played a major role in effecting the prices of various products and services, where few of them had to skyrocket and few had to crash.
This crisis had a similar effect on the real-estate. As a result of the first wave the prices of the properties fell down and after the second wave the prices shot up. Making the very affordability of land and houses very steep.
The following content will highlight the key points on how things worked out in during and after the pandemic.
PROMINENT CHANGES
The initial stage saw a 40% to 50% decline in the value of real estate properties. To overcome this sharp decline government of India has sorted measures such as low interest rates, lesser registration fees, deduction of tax rate etc. The RBI announced that the repo rate will remain at 4% and the reverse repo rate will remain at 3.5 percent till the market stabilises.
Also, Covid-19 gave a boost to the digitalization where the transfer of money from one bank account to another happened from the mobile devices. This provided scope to seamless transaction on multiple accounts at fingertips.
This change in the technology made it possible for contacting the real-estate dealers, online registration of plots and online payments.
The second part of the pandemic where there was recovery from the damage taken, helped prices of properties stabilize. Now, everyone was interested in purchasing new properties, plots, flats, villas and adopting the updated ways of transactions.
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This increase in demand made the prices to surge be it in the urban or rural areas. With urban localities the plots coming to saturation people looking for alternative in the outskirts of city where the property's value is affordable as compared to the price inside the city.
IMPACT ON REAL ESTATE PROFESSIONALS
Builders initially seeked the help of government to have their unsold stock relieved into the market at an appropriate price. Everything came to a halt during the lockdown and made it more miserable. But the government of India initiated coronavirus specific stimulus package that offered some relief to the community of builders.
The situation is now quite opposite as both builders and clients are thinking way ahead of the time when pandemic crisis is over and the demand as usual for the real-estate and its services increases exponentially. Keeping it in mind many are now investing a large part of their income in purchasing and securing plots, residential properties and building it right now where the prices are low and may spike any time.
Real estate is currently seen as a secure investment opportunity, and it continues to be the field of choice for many investors. This trend of real estate investment is expected to accelerate as political and economic stability improves. In the foreseeable future, real estate analysts predict a substantial shift in commercial and retail space investment. With global organisations growing more receptive to flexible working circumstances, demand in this category is projected to rise.
Taking the situation into consideration Aashray Homes has been involved and has taken up several projects in real-estate sector and connected many clients to their desired professional whose service they are seeking. Making it more convenient for people to have these services at their fingertips.
The main advantage of the online platform is to help the clients who are wanting to have their dream home built and are confused from where to begin. With the team of expertise, it provides you access to the top real-estate professionals who are ready to render their services.
Aashray Homes screen all the professionals beforehand, so you do not need to take the stress of finding the right builder, architect, raw materials supplier and other personnel who are involved in the construction of your house.