Why housing went through the roof during Covid: Care Ratings
The real estate sector was in a very peculiar situation in the previous financial year. In light of the situation, which was created by Covid-19, the persisting liquidity crunch of the sector had worsened and various restrictions imposed by the Indian government to curb the pandemic had led to a temporary halt in ongoing real estate projects. This had a domino effect with respect to the large scale reverse migration of labourers and disruption in the supply chain of materials.
While one would assume the pandemic has brought about a standstill in buying of houses on the contrary with companies declaring “work from home” or a blended work from home situation, had led to homebuyers buying their own space or a bigger space. Demand for townships with a range of amenities has accelerated after Covid-19 emphasised the importance of having amenities within your project.This may include amenities ranging from a swimming pool to an office center.
Availability of cheap home loans, lucrative payment plans, attractive prices coupled favorable government reforms the sector has seen an increase in home buying activity especially in places where buyers are able to avail taxation benefits.