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Sector well prepared to counter third wave: Sachin Gawri of Rise Infraventures Limited

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Business | July 22, 2021 1:15:05 PM IST
New Delhi [India], July 22 (ANI/NewsVoir): Residential real estate in India has shifted from being dominated by investors to being dominated by end-users.

Commercial real estate, on the other hand, is a far more appealing investment opportunity for both wealthy individuals and institutional investors.

Sachin Gawri, Founder and CEO, Rise Infraventures Limited, throws light on the real estate scenario with focus on luxury residential and commercial segment.

The real estate sector will be unaffected by the third wave because the country is prepared with a vaccination programme and the required infrastructure to mitigate the negative impacts. People have begun to look at real estate to stabilise their financial condition as a source of optimism. Following the first shocks in April and May 2021, economic activity across sectors began to build up in June 2021, owing to declining infections and progressive loosening of lockdowns.

Unlike the first wave, the real estate sector was more prepared for the second. The market's favourable tendencies, such as demand for larger homes, are seen in the numbers from Q2 2021. The real estate industry has likewise recognised the arrangements that it must deal with, and developers have maintained the ratio as a result. In the premium market, the percentage of new launches reached 15%, which is close to the 18% share it had in 2018. The sector will benefit from the optimization of launches in line with demand, enabling the sector achieve respectable sales statistics in the coming quarters.

Putting the fear of a pandemic aside, many property buyers are concentrating their efforts on luxury residential properties.

The percentage of the premium has increased significantly, showing strong demand in Gurugram. Small investors, institutional investors, farmhouse seekers, and gated community enthusiasts all have options, thanks to the varied range of real estate options available in luxury.

The demand for houses in the periphery has risen dramatically; for example, the Dwarka Expressway in Gurugram is gaining much traction. Buyers from all sectors are shopping for properties in these places, not just those in the affordable group.

The movement, however, cannot be credited to the COVID because work on rehabilitating the neighbourhoods has already begun. As infrastructure progresses, buyers begin to see the reality of the promise of a better living here. Buyers' key concern is connectivity, and with many roads and expressways running through these neighbourhoods, acceptability has grown.

In the aftermath of the pandemic, the commercial has suddenly gained traction. Pre-rented units, for example, have joined the commercial area, assuring investors of a guaranteed income. There is no dramatic spike in demand, but a certain momentum could lead to brighter days ahead for the commercial sector. Commercial real estate is preferred by those contemplating real estate as an investment strategy because it provides attractive rent and appreciation returns. The category has also emerged, with creative technologies to make people's lives easier. The most recent is a fractional investment, which allows smaller investors to participate in the pie.

Despite the pandemic's interruption in recent quarters, office space absorption in India's six major cities is expected to reach 41.3 million sq. ft. in 2021, up 22% from 2019. The leasing market in Delhi-NCR is forecast to grow by 20-25 percent, with the majority of activity occurring in the second half of the year.

Technology, BFSI, consulting, and manufacturing occupiers are projected to drive demand. The Delhi-NCR area has an 8.5 million sq. ft. pipeline of new supply, with Gurugram set to finish roughly 65 percent of it.

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)

 
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