Pros and Cons of COVID-19 on Real Estate

The on-going COVID-19 affects on all kind of sectors. You can consider some of them like residential and commercial real estate making, launching, selling and pricing plays an important role in real estate. All are cuff by the COVID19 in India.

 

Lesser demand, not sufficient number of labours, on-going projects is stuck. Economy decreasing rapidly.All the concerned issues are taken very seriously these days. Our Indian Government taking some important decision to back on track.

 

First and secondquarter of 2020 rank calculated near about 50-31 respectively, stated by FICCI-NAREDEO (real estate sentiment index).

 

15thapril 2020 government announced Rs.59 lakh crore KPMG. Are under the process of development, construction there are lot of things are taken in consideration with some guidelines.

 

We can conclude some pros and cons

 

Pros:-

projects which are close to completion can finish with a good resource available in these days. Before COVID 19 PENDAMIC maximum steel products are imported from china but now situation is different Indian government stated that some Indian industries should manufacture steel product with good quality standard. With this decision our Indian people will able to get a job, good salary and a good work.

 

Many developers are now majorly focused on completing the existing project.

 

With the help of digital platform these days all the people can launch their skims or products or anything via digital platforms. People can go to work, live their life the fullest in this environment.

 

Real Estate Market, Covid-19

Cons:-

About 6 months and above that economy suffering a lot because of COVID19 there is a major outbreak and still have the same situation in terms of economy, in terms of labours, in terms of money, in terms of production, developments and many more.

 

Supply of product is lesser than the demand. That’s why work is still going on it results to working manual.

 

Shortage of labours gives major impact in working environment, and need of money is now a crucial step ahead.

 

Forcing to purchase some products made in India have some challenges like quality standards through which they have to pass.

 

The cost affects a lot of every material they require. Site visit not possible every time to launch or to see the views, with particular location.

 

Things settle over a 12 month or it takes more time at least and for now steady position acquired by non-banking companies and housing finance companies due to financial issues.


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