At the beginning of 2020, real estate witnessed a slump. It is slowly reviving now. There is a direct connection between government initiatives and changing trends in real estate. Hence, it’s natural that builders like Shravan Gupta want to be a part of the changing economy. Most changes are visible as well as invisible.
Real Estate is one sector with a tremendous growth prospect. Till the end of 2020, the effect of Covid was visible. But it is reviving slowly and is on the growth path. Industry experts like Shravan Gupta believe Real Estate is undergoing some major changes. The Indian real estate sector’s outlook has undergone a major overhaul and is bound to change more in the coming months. It is one essential factor that is responsible for a positive outlook in this sector.
Shravan Gupta believes that real estate is bound to experience tremendous leaps in the coming months. This sentiment has been encouraged by the change in business trends:
The First Trend
Since 2020, Real estate has grown three times and has emerged as the most promising market. Contrary to the belief held by experts, it has deflected the Covid curveball and is on the rise again. Reports suggest in the last quarterly results of 2020, Real estate experienced a high growth rate due to increased sales. This change has been made possible due to trends like:
- Low-interest rates: Since the end of 2020, Shravan Gupta says Interest rates have fallen by 15-16%. It has bought back consumer confidence in the market
- High Demand: It is the first choice of people to invest in new homes. First-time buyers are the flavour of the season. Most experts believe that this trend will continue to grow in 2021 as well.
The Second Trend
The demand for rental spaces has gone up in these months. It is due to a change in the working style. Most people are today doing WFH, due to lockdown and change in-office hours. This has increased the demand for bigger rental spaces and homes. Shravan Gupta has emerged as the real winner in this sector.
He is making new homes according to the changing times. This has made his company more successful.
The Third Trend
One of the most important trends which bring about the change in real estate is buying capacity. People who have money are buying new homes and have realised the value of buying a new home. It has led to a boom in the housing sector.
New Areas: Shravan Gupta believes that new areas will be required in future for bigger projects. And this will change the future of real estate in the long run.
It is now proven beyond doubt that the best bet for economic revival is Real estate. Today sales levels are back to pre-covid levels and will grow more by the end of 2021.