The Indian real estate sector was already in turmoil before the COVID-19 pandemic hit the country. The COVID-19 outbreak only added troubles to the stressed industry. April and May were the worst months when the economic condition of the country was broken. However, there has been good progress in the recovery of the Indian real estate sector lately and demand for plots for sale in Ujjain and other parts of the country has grown. Further, there has been a surge in demand for home loans as well. These are surely a good sign of the revival of the real estate industry.
With regulatory support from the government, the real estate industry is showing a sign of growth and sales are increasing across the cities. To foster the demand for the house, additional INR 18,000 crores was allocated under PM Awas Yojana. This aid is expected to boost demand, especially in the affordable and mid housing department. Besides, availability of home loans at a lower rate, relaxation in stamp duty in some states, and RERA regulation have been effective in motivating investors to pump their money in the real estate sector.
Due to the outbreak of the COVID-19 pandemic, the concept of a second home or home away from home has gained importance. With most of the people looking for residential plots in derabassi and another tier 2 city across the country, geography is no more a limitation. The need for a fine balance between personal and professional life has boosted the concept of a second home away from the hustle and bustle of the city.
From the investment point of view, investment in tier 2 cities is considered a safe investment option with higher capital appreciation compared to property in metro cities. These residential properties in non-metro cities can be an additional source of income by renting out for tourism and business purposes. Hence, to take benefit of the current market situation, people are looking for property for sale in Karnal and areas nearby the national capital.
The COVID-19 pandemic has changed how we live our life. The overall health and wellness concerns have shifted the focus towards a home situated amid greenery and luxuriant locations away from the noise and pollution of the city. Further, the second home has emerged as the most sought after choice for home buyers. Parsvnath, a leading and prominent real estate developer is offering plot for sale in Panipat and another tier 2 cities in India. Grab the opportunity and fulfill your dream of owning a home!