The global pandemic has changed our perspective to life and this change has also made people aware of certain things, which were neglected in early times.
One of those things is investing in the real estate market. Now people have become more aware, all are fighting against corona in the best possible way they can and have understood the value of living a hygienic lifestyle. And when we talk about living a hygienic life, proper accommodation plays a key role. And that is where; real estate market comes into light.
Real estate, one of the largest sectors of India is like the backbone of the country. It is also among the largest employment provider sector in the country. Due to the corona and lockdown, the construction activities were at a halt. Though with the new guidelines of the government, the sector has started functioning again, the future looks a little difficult, as the changes in policies and market behavior will decide the fate of the industry. It is expected that with the help of the government, the real estate industry is all set to deliver its best as the pending projects are to delivered by the end of the year.
With projection completion and delivery round the corner, it is the best time to invest in real estate and there are possibilities that the second-half of 2020 will turn out to be a promising year for the real estate sector. The industry experts are of the view that if the strategic investment is made in the sector, it would be a huge gain in the current scenario. According to a survey, it is believed that 2020 has great potential for both residential and commercial real estate businesses. The study clearly mentions that in the last couple of years, co-ed office space has gained impressive traction in most cities with IT/ITeS players contributing to most of the demand. Keeping the track record in mind, experts suggest that, to make it a smoother financial year ahead for investors and developers, the government needs to take more quick and bold corrective measures for the housing and urban infrastructure sector.
When it comes to a huge investment like the real estate sector, people always think of a profitable and good return for the investment they make in the market and if experts are to be believed; currently real estate market is the apt one to make the right choice. The prices have gone done and are expected to go down a bit more, hence, attracting more and more investments. If you have already invested in the real estate, then post-corona, you can expect a good return out of it. As per the latest analysis by the real estate experts, the real estate sector predicts and looks practically promising too. It is obvious that post lockdown, the prices will lead to lesser risk in a smaller market.
The experts are eying on the brighter side and also believe that this phase will help understand the governing body, the loopholes in the industry and brings in corrective measures to secure the interest of investors and market players too.
It is being forecasted that in 2020, the Indian real estate system will exhibit more financial discipline, accountability, and transparency.
The ongoing lockdown has surely raised concerns for those living in rented space to slowly plan and invest in a secured home for the future. And this will likely attract a lot of young professionals towards real estate in the coming months. From banks professionals to journalists, everyone will start planning budget homes in the next 6-8 months and this will boost the real estate market for all the good reasons. But, it is also expected that by the time market starts recovering, the prices might spike and that’s the reason it is suggested that this is the best time to invest in the real estate market.
In the coming unlock 1.0, it is expected that the property prices will be stable for a couple of months, but the intervention of government is likely to make it a better place in the coming quarters of the financial year and there might be price rise, which will have its own pros and cons on the functioning of the real estate market.
By Mr. Pankaj Kr. Jain, Director,KW Group