The Indian real estate sector is on the road to recovery and is gaining so much especially in the last year and a half. The pandemic has acted like a ‘blessing in disguise for the real estate sectors as the number of home buyers has drastically increased over this duration. People and their lifestyles have changed, causing this sudden change because everyone now wants a work-life balance and wants to manage their personal and professional lives in a decent way. People are changing their ways of living and demand the kind of space they want to live in.
According to recent reports and surveys, around 41% of respondents believe that the industry is going to have a moderate outlook, considering everything. Another 19.4% believe that the sector is going to have a booming time. Another 7.7% believe that the sector is going to have a poor time in the coming days. The survey was basically conducted to understand the perspective of the audience and what are their preferred choices, considering everything. The survey was conducted through an online questionnaire and was filled with various types of questions for around 1200 people.
The Dedicated Survey
The company is trying to analyze the situation and understand how the market works by understanding the market, various policies, rules, and regulations being set up for the market, the impact of applying these to the real estate sector. The Indian real estate market is at a very important turn these days, especially since the activities of last year and a half. The decade has not been that good for the Indian real estate sector following the like of demonetization, various changes done by RERA and banks increasing the interest rates. But pandemic came as a boon because more and more people want to invest in homes as they want to have some lifestyle changes and want to own bigger spaces with a blend of comfort and luxury.
These things increased the demand for properties and the real estate sector has been booming ever since. Post 2nd lockdown, demand for apartments and villas has drastically increased and therefore is setting a stage for various companies to launch their projects. The home buyers also have an inclination towards apartments because according to the survey around 48.9% of customers wanted apartments while a mere 25.6% wanted to go for plotted properties. Especially since work-from-home is the preferred mode these days and the same is going to continue for quite some time now as education and offices are planning on continuing with the same model, people are interested in buying bigger properties.
These things have resulted in an upward surge in the need to buy a house and according to the reports, around 40% more people are interested in buying properties in the upcoming days. Many others are also interested in going with the flow and serving real estate as an investment for the near future. So, all-in-all it’s a win-win kind of a situation for the real estate sector these days.