Property analysts vow that India’s property markets are getting out of Covid 19 lockdown and market uncertainties.
The best indicator is the buoyancy in the shares of credible realty firms that are trading on the Bombay Stock Exchange (BSE).
As the nation unlocks itself from the pandemic and the widespread confidence in India’s economic growth potential are spurring following the Modi government’s Covid vaccination programme, there is a general sense of optimism among people to invest in the country’s realty sector.
This is noted particularly in Tier II-III cities. Buyers in the Punjab region, for example, are seeking out well-planned projects and better infrastructure.
After initial hiccups, 2020 panned out well for the real estate sector as it set the tone for 2021, newspaper reports have said.
Nagaraju Routhu, CEO of Hero Realty is quoted as saying that the pandemic period has been a great learning period when it comes to reforming the business strategies and revisiting the realty sector’s contingency plans for better tackling setbacks caused due to Covid lockdown.
He said real estate witnessed the new dawn with digital integration in terms of virtual tours, online sales, etc. Gradual unlocking of states and industries helped the sector go back to normalcy.
The festive months were bright in terms of project deliveries and possessions. Tier-II and Tier III cities, as compared to metros, have seen robust demand in the residential segment due to reduced home loan rates and buyers’ inclination towards integrated living.
In 2020 the trend was reverse migration among working professionals from metros and NRIs that led to an increase in demand for property in Tier II and tier III cities.
Routhu noted that in the northern region, tricity and its peripheries witnessed an upsurge laying the foundation for a market that is going to grow exponentially from here.