How COVID 19 changed the buying/selling game in the real estate industry? Know here
The novel corona virus outbreak has tremendously impacted the businesses all around the world. Talking about the real estate industry, the first three months of pandemic brought construction activities to a halt and realty sector had to face toughest times ever. Property transactions dipped to near zero during the first nation-wide lockdown between March and June 2020.
The impact of Covid-19 could be seen on the interconnected activities like interrupted supply chains, migration of labors, liquidity constraints, and cost overruns were some of the challenges that real estate industry saw for the first times in decades. However, the real estate markets have started to recover as the business activities have resumed and demand for houses in tier II and tier III cities have accelerated owing to reverse migration. Therefore, leading real estate houses like DLF, Emami, Alpha Corp, Omaxe, and ATS have switched to smaller towns to monetize the land bank they had in the cities.
As per the private real estate consultancy Anarock’s report, the sale of residential property in top seven cities of country (MMR, NCR, Bengaluru, Chennai. Hydrabad, Pune and Kolkata ) pushed down to 12,720 units in Q1 of 2020, as compared to 68,000 Units in 2019. The NCR saw the sales of only 3,620 units since the pandemic spread its wings in the country. But as the light exists at the end of tunnel, the real estate sector has started seeing recovery after lockdowns are over.
If you are aiming to buy property in Gurgaon Dwarka expressway and that too thinking to buy plots in Dwarka expressway, then there’s no match to BPTP Amstoria Plots sector 102 Gurgaon. It is 126 acres of exclusive integrated township built near Dwarka expressway offering plot sizes of 180-250 sqYd. The township is laced with all the ultramodern amenities including top line Gymnasium, Heated Indoor Pool, luxurious High-end Spa, Multipurpose Banquet Hall, power backup, 24×7 security, and green spaces with 4000 trees, and more. It is one the best upcoming projects in Dwarka expressway that you can consider buying or investing in Gurgaon.