India’s residential real estate market bottomed out in 2020, with sales momentum rising from October to December reaching pre-COVID levels or until next year if there are no more unexpected negative events It is highly likely that it will continue. For leading real estate developers and consultants.
Common low interest rates on mortgages, stagnant home prices, discounts, attractive payment plans, reduced stamp duty in some countries, and the growing importance of homeowners in a pandemic will boost sales next year Here are some of the factors. Added.
Home sales from October to December increased from 29,520 units in the previous quarter to 50,900 units in seven major cities, according to Anarock data. Nevertheless, sales in 2020 were down 47% to Rs. 138,000, but last year it was Rs. 261,000.
“The residential real estate segment seems to have bottomed out now, with real hope and optimism, and new confidence in the strong fundamentals that drive the Indian housing story,” said Anuji Puri, chairman of Analoc. There are good reasons to look to 2021. “
Sanjay Dutt, Managing Director (MD) and CEO of Tata Realty & Infrastructure, said sentiment and economic indicators show early signs of recovery, but further concludes. Only after a quarter of good results. Housing demand is expected to improve from current levels, he said.
Mumbai-based Kalpataru Ltd MD Parag Munot said, “We are witnessing a turnaround in buyers’ sentiment against the backdrop of historic low interest rates and various realization initiatives by state and central governments.” ..
However, he said further steps were needed to further boost demand, such as raising the income tax deduction limit on mortgage interest.
“The sector will also see consolidation as demand concentrates on quality real estate from reputable developers with a track record of time-limited deliveries,” Munott said.
Mahindra Lifespaces MD and CEO Arvind Subramanian said: warning. “
CBRE Chairman and CEO of India, Southeast Asia, the Middle East and Africa, Anshuman Magazine, said: “In the future, although it is medium income (450,000 rupees-100 million rupees), sales are expected to improve gradually in all segments. The budget (less than 45 rupees) category is a major focus among homebuyers. It is expected to be a field and relatively good performance is expected. “
Bangalore-based Sobha Vice Chairman and MDJC Sharma said the pandemic, its impact, and the blockade had a negative impact on the real estate industry.
“The government has taken timely and commendable steps, and the situation has gradually improved over the past two quarters. It needs to be done quickly, but it’s starting to build confidence,” Sharma said. It was.
Dhruv Agarwala, Group CEO of Housing.com and Proptiger, said: Demand in 2021 is likely to recover to 2019 levels and could even exceed it in the absence of unforeseen negative events. “
Shishir Baijal of Knight Frank India CMD said: “In 2021, as consumers and businesses take responsibility for managing their lives and livelihoods in this pandemic uncertainty, the market trajectory will improve significantly compared to 2020. Dynamics are expected to take the lead. “
Kanika Gupta Shori, COO and co-founder of Square Yards, said the real estate sector expects strong demand in 2021 and people are likely to continue to see it as the safest investment option.
Bangalore-based Shriram Properties CMD Murali Malayappan said the growing demand in the housing sector only further emphasizes that 2021 will belong to the real estate sector.
Rakesh Reddy, director of Aparna Constructions and Estates, said: “The 60-day blockade shut down the business, but once the blockade was lifted, the real estate industry was slowly back on track. 2021 is expected to improve momentum and is promising for the real estate industry. It will be a year. “
Mohit Goel, CEO of Omaxe Ltd, said: “We hope that the holiday season will continue to gain momentum by ensuring that the RBI remains accommodative and that the government does not loosen its stimulus.
Pradeep Aggarwal, co-founder and chairman of Signature Global, said the market for affordable homes is strong and will move further in the coming months. “People recognize the importance of owning a home, and this feeling will continue.”
Amit Raj Jain, Head of Sales at BPTP Ltd, said 2021 is expected to be a great year for both segments. In short, demand is stagnant and we are ready to move inventory and launch new releases.
Prateek Mittal, Executive Director of the Sushma Group, said safety concerns will increase housing demand for integrated townships, and KW Group Director Panjak Kumar Jain said: “2021 is optimistic in many ways with the help of policy makers. Consumers are taking their housing investment seriously, and I think it will ultimately be boosted.
Home sales will recover from October to December.The industry expects momentum to continue
Source link Home sales will recover from October to December.The industry expects momentum to continue