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October 29, 2020

Success of Real Estate in India during Covid-19

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In the past few months, when the coronavirus outbreak led us to be all secluded and adhered to social distancing. It was an extreme downturn for India’s Real Estate market as it came to a complete standstill.

Be it 2020 or the Great Depression, a huge number of businesses that attained an audience are now icons in their fields. It was due to having a readiness to deliver solutions whenever people needed them and fulfilling them. But, what counted was that they stood up and took hold of the arisen opportunity.

It is known that eventually, the market shall improve and the demand would be flowing in through the gates. The real estate sector seems to be in similar straits with pent up demands and awaiting a flow of renewed public as soon as the lockdown is lifted. As 2020 was looked upon with a lot of substantial growth in terms of the real estate structure with affordable homes and housing schemes predetermined by the Government.

As time seems to be passing month after month at a pace that is ungraspable. It had taken a toll on the economy with businesses shut down and financial markets implementing their survival strategies. Amidst the havoc, Real Estate went through day-to-day capabilities diminish with lack of construction work and shortage of labor.

But, it was not late when the tides changed for those who feared a deep and dark recession with a rapid market plunge. A few real estate builders and developers held onto their promise of timely delivery and builders like Suraj Estate Developers came out being true to their words. It can be said that the light at the end of the tunnel seems to be brightening and closer to the real estate sectors than it appears.

With the ‘new normal’ norms, Suraj Palette divulged its accomplishment through this ordeal by being one of the developments to adapt to the current circumstances. Many top builders in Mumbai adopted virtual viewings and live walkthrough video tours to attain their presence in the market. The shift of exclusively turning to digital channels have paved a success path for real estate during COVID-19.

As virtual viewings and live video walkthroughs are still permissible, Suraj Estate Developers have readily continued the construction of their luxspacious 2 bhk and 3 bhk flats in Dadar at The Palette. With complete safety precautions and to be ready prospects when the curve flattens.

The key takeaway is that whilst we face an immensely difficult period, the online presence and the engagement created by the businesses shall turn to be fruitful when potential buyers would think of buying and selling. It is the law that for every action there is an equal and opposite reaction. As we have witnessed during the Great Depression and Great Recession that certain businesses who are best prepared to provide useful services tend to achieve a successful bounce-back.

Similarly, the epoch has shone on many companies like Suraj Estate Developers who did their part and was equally rapid in times of distress and yet are on a path of restorative growth. Even though the majority of the market is subdued it is primed for the good times ahead.

 

 

 

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