As the utter chaos of the pandemic finally looks lying it’s dying down and the world finally seems to be getting back to its feet, economies, and industries too are gaining momentum. The real estate sector for example is undergoing a major boom post-Covid recovery and this is down to a number of factors that we will explore in this article. Luxury projects, in particular, have gained quite a bit of momentum during this period.
Here are some important factors that have contributed to the boom in the real estate world:
- Government Initiatives
The new initiatives taken by the Indian Government have made the home-buying process a lot better for the homebuyer. Reduced tax incentives and low-interest rates on home loans are just some of the ways in which the government is offering its support to the real estate industry and making things more affordable for the homebuyer.
- Technology
Technology and modernization have really helped when it comes to buying homes. Augmented and virtual reality, online portals for home searching, and online methods for document submissions have made the entire process faster, smoother, reliable, more convenient, and affordable too.
For a detailed understanding of how technology has changed the way, homes are now bought, read our blog How technology has changed the home buying process
- Lifestyle
Ever since the pandemic, more and more people have understood the importance realized of creating liveable and productive spaces where time can be spent efficiently. Another noticeable trend is that people also prefer having homes or second homes, away from the city and closer to nature. This lifestyle has made luxury properties a new favorite amongst HNIs who wish to secure a value-adding life for their families and themselves.
- Work-From-Home Situations
Work-from-home or hybrid models have more or less changed the way so many of us work. As some continue to work from home, an interior infrastructure with workstations or home offices in spacious, luxurious homes has become the new normal.
- Investment Purposes
Not just residential spaces, even commercial spaces are turning out to be lucrative investments as people turn to entrepreneurial opportunities and are looking at starting their own businesses.
HNIs too, are buying second homes and investing in luxury homes for the purpose of value-added or for securing an upgraded, quality lifestyle for their families.
As conditions get more suitable for both the developers as well as buyers, things are only looking brighter and better for real estate in India.
Mittal Builders – a trusted name in the world of real estate is committed to providing 2,3,4 BHK homes that are designed to meet the new normal, that is 2022.
Whether it is modern, affordable, or luxurious, Mittal Group has all of this and more in award-winning properties that span all over Pune city.