Business & Investment

Congratulatory cheers to the real estate sector, government assistance needed to maintain the bonomy

It’s a good time for people to make quick decisions before market law begins to dictate.

Since the second quarter of 2021, a lot of optimism has permeated the real estate sector. Sales began to recover in June 2021. The sector wants to recover from the festival season and it is no exaggeration to say that the festival did not disappoint the sector. According to the latest report, new product launches and sales increased significantly in the July-September 2021 quarter. But the festival isn’t over yet, it’s looking at the momentum, and the sector will come out with a smile.

Currently, sales during this period are driven primarily by developers and lending banks rolling out the most attractive offers of the year during the festive season. Real Insight (Residential) by PropTiger.com: July-September 2021 (Q3) shows significant improvements in both home sales and new launches between July and September 2021. ..

The festive season was the highest point of the year for the real estate sector. Buyers / investors consider investing in wealth-producing assets auspicious times. This year, the need due to the pandemic also expanded the sector. Demand has increased since the first wave, but on and off movement restrictions have slowed the purchasing process. Since May 2021, deregulation has led people to look for real estate. This is now reflected in promising sales across the country.

Traditional sentiment played a role, but unprecedented low interest rates and affordable price increases backed by offers were important for even fencesitters to take action. Various reports by real estate consultants have shown that affordable homes benefit most from the scenario. This segment accounts for over 30% of sales.

Looking at the new launches, which saw a nearly 200% surge in the third quarter of 2021, the maximum number of launches was below 45 rupees, accounting for 32% of all new launches. There is also a lot of housing demand from people who were previously accustomed to renting. One of the most striking features of today’s housing demand is that even millennials are trying to buy a home.

The pandemic threatened people because they gave the impression that they had little control over what was happening. The image of death and the idea of ​​financial instability caused people to look at uncertainty as the value of their investment was lost. People crave peace of mind and home as their first management line. The rental generation, who prefers other investment tools to real estate, has achieved stability in real estate assets and helped the sector see a surge in demand.

The long-awaited revival of real estate began before the virus was completely contained. Today, rising demand boosts the value of real estate, and rising spending and lower inflation push up loan rates. It’s a good time for people to make quick decisions before market law begins to dictate. Nonetheless, rebound fundamentals are strong due to high demand, especially in the housing sector, which is currently being driven by end users.

NS RBI And we need government support to maintain positive sentiment. Authorities need to announce new incentives or extend stamp duty and yen rate exemptions so that demand remains intact after the festival season.

(By Rajat Goel, JMD, MRG World)

Live streaming Stock price from BSE, NSE, U.S. market And the latest NAV, portfolio Mutual fund, Latest checkout IPO news, Best IPOCalculate your tax by Income tax calculator, Know the market Top gainer, Top loser & Best equity fund..Like us Facebook And follow us twitter..

Financial Express is currently on Telegram. Click here to join the channel Stay up to date with the latest Biz News and updates.



Congratulatory cheers to the real estate sector, government assistance needed to maintain the bonomy

https://www.financialexpress.com/money/festival-cheer-for-realty-sector-govt-aid-required-to-sustain-bonhomie/2358760/ Congratulatory cheers to the real estate sector, government assistance needed to maintain the bonomy

Back to top button