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By Balvinder Singh Kalra
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The countries across the globe are applying extreme measures to flatten the curve to contain the spread of the COVID-19 outbreak. The businesses and economies are the major sufferers and have come to a grinding halt. Amid all the adverse implications caused by the coronavirus, a lot of opinions are emerging regarding the impact on Indian real estate.
Closely following the past economic meltdowns, the professionals are expecting a strong revival of Indian Real Estate post lockdown. The entire industry especially the residential segment will witness an all-time high boom after the pandemic abates. This post of Canvas throws light over all your concerns regarding your real estate investment plans.
Amidst the fluctuating economies, the stock exchanges and gold are no longer a safe option for investment. People are continuously losing their faith in these investment alternatives. Real Estate, being a non-perishable product is the safest, secure and most reliable means of investment today.
Following the current scenario, India is likely to overcome this crisis much early as compared to other developed countries. The government of India and Banks will infuse a lot of money and take stringent efforts for economic revival. India will inevitably find its feet after the things normalize.
It is evident that the global economy has entered into a recession. Developed nations like the UK, Italy, Spain, China and the USA will be amongst the worst affected. Almost all the industries- Automobile, IT, Travel and Tourism, Retail, etc. are suffering huge losses. There is no ray of hope to recover soon.
Amid all these heart-wrenching news, India turns out to have a silver lining. The Indian real estate holds a very promising future not only in India but globally as well. The reason is that when the entire world seems to have lost control over the outbreak, India has fairly managed to contain the spread.
A trend of reverse immigration by Indians from the affected countries is anticipated down the line. The NRIs are finding India an attractive place to invest due to significant return over investment. Places in India, particularly Chandigarh and Mohali are amongst the debutants to witness this surge for investments.
Due to the dollar becoming stronger over rupee, NRI’s consider Mohali and Chandigarh as the best place to buy a home. Northern India has a majority share in the NRI population.
Housing is amongst one of the most essential needs of every human, the residential sector foresees huge demand for independent floors. As the reverse Migration from America and other countries will soon start happening, it will lead to a great demand in Premium Residential Apartments as well.
The current outbreak of COVID-19 has made the whole world lose faith and trust in China. China had the lion’s share in the global manufacturing market. But, the recent developments have disrupted the faith of people on Chinese products.
American, British, Aussie and other western world countries have already started boycotting Chinese goods. In no time, they will stop using any products/services connected to China. A complete boycott is intuitive.
This renders an excellent opportunity for India Inc to emerge as a manufacturing and export hub. Because India would be the only “ready option” left for the entire world as it provides skilled manpower at the lowest cost. The start-ups such as Make in India, Start-up India Initiative, etc. will now be taken into overdrive mode.
This will eventually spike demand in the residential and commercial spaces. Investing or buying a property in Mohali or Chandigarh today, would make the residential space grow 1.7x in the coming years.
The main driving force of the Indian Economy is the Middle-class people. So, the demand for mid-income and affordable housing will continue to grow post lockdown.
This lockdown will leave everyone with a desire to have a bigger living space. Therefore, people would be looking for better residential spaces, more commonly towards 3BHK+1+1 independent floors. As independent floors in Mohali offer a dual advantage- the safety of apartment living and privacy of villas, the demand is soon going to spike.
Canvas offers quick possession 3BHK+1+1 floors having a commodious store and a servant room. Invest today and reap benefits down the line. Located in the heart of Mohali, [email protected] drives the desires of people of cherishing their homeownership goals at competitive prices. For more queries please contact us at +91 97001 97007 or write to us at [email protected]. Give your family a dream home that would be cherished even by the posterity.
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