Aftermath impact of COVID-19 boost the real estate market was hardly expected but the smart and quick moves taken by builders made it possible and you can see the positive outlook in the year 2021. Undoubtedly, after being badly battered by pandemics, lockdown and high restrictions, the demand for home did not stop.
And after the situation came into control, many restrictions were lifted up and slowly financial sectors were able to recover the economic loss. Including real estate, the stock market also gear up with full speed and gradually it helped to stabilize the economic condition of the country.
When it comes to real estate, the demands for homes were still there, in fact, it boosted the volume rate of domestic real estate. Because at that time the WFH (Work From Home) culture was on high and everyone were at home and managing their office work, students were doing their online classes. Hence, the house demands were quite high.
Although the situation is now in control, the health sector is not sure about the return of COVID, as the pandemic has shown its horrible impact in 2 phases, and in the second phase, we all had faced a nationwide severe fatality rate.
Thus, by evaluating the situation experts are saying that the demands for homes will continue in the upcoming years. And it has been seen that the sector has almost reached the Pre-COVID levels.
In addition to this, developers’ approach with a completely new strategy, where they are providing possession within 2 years, so a home buyer would no longer wait to get the ownership of the home.
In the past year, the Nifty Realty index rose 77 percent to 507 points. Index value typically provides an indication of the market sentiment.
Demands for real estate is increasing since the start of the opening of the economy and the festive seasons also add support to home buyers, plus the lower interest rates, tax relaxation for first-time homebuyers under PMAY (Pradhan Mantri Awas Yojana) and the lower rate in stamp duty are some essential privileges which help to hike up home demands amongst buyers.
Hence, the demand trends are expected to sustain going ahead into 2022 as well. Also, developers lining up with more new launches of residential projects to meet the demand and DLF Midtown Delhi is the best instance of it.
Highly Demanded Luxury Housing In Moti Nagar, Delhi
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