REAL ESTATE WILL CHANGE FOREVER

Covid-19 may alter how we live, work, learn and play. What will it do to the buildings that house those activities?

The nature of the home, the office and the retail zone are likely to see some dramatic change. Decentralization, redistribution and restructuring will be the key themes of this transformation

Landlords grow rich in their sleep" is a belief that resonates with most of us. It is no wonder, therefore, that real estate sees more investments than stocks and bonds put together. A bulk of the average Indian’s savings and investments too are tied to this asset class. Naturally, over the past few weeks, there has been much pondering about its future.

The home will gain more prominence over the place of work and influence urban development and our real estate choices.

?The good news for India is that the long-term housing demand trend remains secular due to a young population which continues to enter the workforce in large numbers. Over the last few years, there had been a gradual shift in mindset among first-time homebuyers who began to favor a rental home, challenging the established preference of Indians to buy homes.

?The pandemic is driving them back to the desire to own a home. Real estate investments provide a higher sense of security during a crisis, when financial assets come under pressure. Additional space at home, as warranted by work-from-home, is an important consideration as well.

?ON RESIDENTIAL FRONT

?Firstly, after covid-19, vaccination drive at a humongous level is being held globally. India being the second most populated country has committed to vaccinate maximum number of people by October’2021.

?Migrant labor and workers have resume working on sites with full swing due to demand in residential properties surge on larger scale.

?Furthermore, Citizens desire a more comfortable lifestyle due to work from home scenario. Realtors are getting demands specifically for rooftop houses, bigger plot size and spacious premises.

?In addition, to improve the future outlook of real estate industry government is taking steps such as reduced stamp duty and registry charges, providing extension in payment of property taxes, fast track online property registration, etc.

?Builders are taking steps towards increasing sales by providing discounted rates. Banks have provided major support in housing department by proving loans on attractive interest rates. Especially for females.

?ON COMMERCIAL FRONT

Around 90% of global firms regard real estate as a strategic device for their business in support of wider opportunities after covid-19.

Real estate sector will contribute 10% of the GDP by 2030, according to Union Housing and Urban Affairs Secretary, Durga Shanker Mishra.

Warehousing was already in growth mode due to positive goods and services tax (GST) implications and now substantial demand increase is envisaged from e-commerce and resultant space requirement for warehousing. Increased institutional capital is expected to be directed towards warehousing to meet this demand. In the coming months, the pace would get accelerated with the e-commerce biggies renting space across the country with many new cities and towns getting added to this footprint.

We at Preferred Properties ensure all the demands and expectations of our clients are met whatsoever. Transparency is our key to happy and satisfied clients. We have out done ourselves maximum times and desire to do so in future as well.

?For any concerns or queries please contact us for a profound discussion on your requirement.