High demand for ready-to-move-in properties
The real estate scene in India had been pretty poor off late, but seems like it’s recovering at a slow and steady pace based on recent analysis of the situation. After the new government came into form, more buzz has been observed in the real estate department.
The real estate sites are witnessing more visits, accompanied by a significant increase in the number of people visiting the offices of developers, both for buying and selling purposes. Ashutosh Limaye from Jones Lang LaSalle India says that compared to the last 6 months, they have entertained about 1.5 times more number of queries recently.
More demand is being seen for the sale and purchase of properties that are ready to move in, and for rental properties as well. Sanjay Sharma of Qubrex said that business in the realty sector at the start of this year was minimalistic, especially during January and February. But they have been able to strike some deals now and the interest and activity has gone up 3 times.
Right now, the deals are not very profitable, nor are they incurring any losses, but are being viewed as reasonable. But this plight is expected to change by the end of this year once the realty market achieves some stability. It’s evident that potential buyers and sellers have researched well during the slowdown, and are now making well-calculated moves.
There is hope for some new infrastructure projects to be announced and some policies to be changes, which is expected to revive the real estate sector in another 6 months.
Source: Business Standard
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