Demonetization & COVID-19 Pandemic: Double Whammy for Indian Real Estate Sector

After the demonetization, the COVID-19 outbreak is proving to be the second biggest jolt for the real estate sector in the country. Many projects across the country have been hit hard after the lockdown imposed to contain the coronavirus. Industry experts say that the real estate sector is not like other sectors that would see recovery after the ease of lockdown restrictions. The demand for real estate property for sale in Indore and other parts of the country has witnessed a sharp decline due to the COVID-19 outbreak.

Factors like economic slowdown, loss of jobs, migrant workers returning to their homes, and fear of COVID-19 has hit the real estate market very hard. Subsequently, it may also spur the cost of property in Indore which will increase the burden of buyers. It is being said that no new residential and commercial projects will be launched soon as long as the existing units are not sold.

According to Real Estate Developers’ Associations of India, CREDAI, residential projects in the coming times will be as per the changed lifestyle of people after the coronavirus outbreak. People would prefer to stay in areas with less population density after the COVID-19 outbreak and will also avoid long-term liability like housing loans. If you are looking for property in rajpura then Parsvnath developers can help you to get one without any hussle.

In the changed situation, many big real estate companies such as Parsvnath builders would offer residential and housing projects with all amenities. People will now prefer to live in specious developed homes and apartments with less population density. As far as Indore or other cities in MP are concerned, the chances of starting a new real estate project are dark as there are many projects started before demonetization that are yet to be fully sold.

The cost of secondary market, which means the individual property for sale in Ujjain & properties on sale in different cities, would not see much impact, but may slightly go up as such properties are generally in the heart of cities.

Property in Derabassi

Derabassi is a city and a municipal council in Mohali district in the state of Punjab, India. Are you looking for plot for sale in Derabassi? Derabassi is located on the Chandigarh – Delhi National Highway, 20 km from Chandigarh. It is strategically located near the boundary of Haryana, Himanchal Pradesh and Union territory of Chandigarh. The Derabassi town was formed from the early Kalsia state, whose headquarters were at Chhachhrauli. There was a big fort (now in ruins state) of Mughal era located at outskirts of Derabassi. Parsvnath developers can help you with one. Get in touch today! 

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