Festive season to boost real estate market.
The long-lasting ongoing coronavirus pandemic has adversely affected the various sectors on large scale likely the real estate market which is the second most contributor to GDP has also been affected due to the pandemic.
After the nationwide lockdown which was imposed in late March, launches were stalled and delivery dates were pushed and several buyers have dropped the ideas to buy a new home which put down pressure on the real estate industry. But according to market strategists and real estate experts the upcoming festive season 2020 might open up few possibilities for real estate developers as well as home buyers.
Many developers have already started their construction on full throttle and slowly gaining momentum in many parts of June. The RBI also came up with new rules and regulations for boosting the real estate market by lowering the interest rates, lowering stamp duty charges and registration charges in various states. This is all due to the expectation of the festive season to boost the real estate market on top of that six months loan moratorium has helped the real estate sector to slowly be on track.
Market Research by expert.
According to the market research at CBRE India, the festive season to boost the real estate market is expected when people are keen to explore the new investments opportunities and developers to offer new exciting offers schemes. All these factors combined together are helping the real estate market to inch closer to normalcy.
On top of that pandemics have corrected the value of homes for a consumer who now feels safe to invest in real estate. while the homebuyers were hesitating to buy homes or invest in real estate now they are open to buying and showing lot of intrest in the real estate market due to plenty of deals and lower interest rates on home loans and some attractive deals by the real estate developers like no EMI, cashback, flexible payments, and other incentives.
All in all, the festive season will boost the real estate market along with that also boost the real estate industry due to the above reasons.