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2021- A realistic target & a preferred decision for owning a home!

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Developers are focusing their efforts towards laying the foundation of affordable projects in their portfolio. The middle class encompasses the largest segment in the Indian community. Hence, developers have realized the importance of tapping into this asset class to expand their customer base. Affordable housing projects in Gurugram/NCR continue to be the prevailing segment in the market as 87% of the new launches were analysed in the less than Rs 45-lakh price bracket through the October to December 2020 quarter. (Source Code- Real Insight Q4 2020, a quarterly analysis of India's eight prime residential markets by real estate brokerage firm PropTiger.com.)

 

Government & RBI’s support in revival of the market-

With the new affordable housing policy, slashed stamp duty, reduced interest rates by RBI and the Finance Minister's stimulus package, it is a lucrative time for prospective homebuyers to achieve their lifelong dream. Saving and investing for the future has always been a common practice among Indians. Today's generation has banked on the real estate market as a safe investment option. With this thought process, many residential properties in NCR have seen able growth since October. With good policies such as a single-window clearance and efficient planning, would indeed benefit the real estate sector. Gurgaon real estate market's performance in the last quarter has stood out in this region, showcasing a 37% growth QoQ and 57% to the overall sales in the previous quarter. (Source Code- Financial Express)

 

Developers' efforts

The fence-sitters who had put their property investment plans on hold along with new homebuyers due to induced lockdowns are slowly returning to the market. The on-going situation has led the developers to offer attractive deals and discounts to lure buyers towards their project. The exceptional response to the festive residential offers from Navratri to the New Year signified that the affordable housing segment is in line towards growth and prosperity.

 

Technological Advancements in real estate sector-

In the future, there will be a further rise in the adoption of digital mechanisms. The WFH trend has initiated a switch towards online tools. Developers are working towards establishing building digital capabilities with latest devices and PropTech strategies. Due to such advancements, trusted brands were able to convince and sell during the lockdown. Hence, the buyers will choose to visit the site physically or virtually envision the space without stepping outside their homes. These tools can create virtual tours, display floor plans, 3D views that enable better customer understanding.

 

The developers are focusing on catering to customer needs and expectations. The homebuyers are likely to bestow their trust in developers who are willing to customize their offering and find a solution to the customer's concerns. Thus, one can conclude by saying that the year 2021 is ideal for homebuyers to shell out and seek comfort within the four walls of their new abode.

 

For your ideal home, or for seeking the best properties in Gurugram, visit www.valuehomzgroup.com.