Residential Real estate on Revival mode due to the following attributed reasons

Real estate has definitely shown signals of revival with Media reports confirming the spike in property registration data for the month of September bears it all. The gradual economic unlock has certainly uplifted the consumer confidence index sunk in the new normalcy.

Pandemic life has underpinned the value of owned houses on grounds of safety and security alike never before. This has urged the discerning home buyers who lived on rental accommodation until and fence sitters who postponed homebuying to step forward and evaluate the preferable home buying options on priority. The comfort and convenience that owned property brings is much worthy and first time buyers should take the plunge. It is also suitable for the homebuyers to upgrade their housing needs to larger & spacious apartments in lieu to accommodate work or study from home culture sinking in across the globe.

Demand for spacious homes with additional flexi space has registered a surge, especially in the ‘ready to move in’ category. The incentives by the Government of India for first time home buyers has had a positive effect. There has been significant demand for larger configurations of homes, given the need for space upgradation, to accommodate lifestyles in the ‘new normal’, so yes, there is a revival in demand.