Why did the demand for plotted developments shoot up during the pandemic?
Mr. Rakesh Reddy, Director, For RoofandFloor
The first wave of the COVID-19 pandemic seemed to have a severe impact on the Real Estate Market with a steep drop seen in sales. However the sector was better prepared to deal with the repercussions by the 2nd wave. Virtual tools and online advertising were contributing factors to the recovery.
Government aid in the form of lower restrictions on construction sites, lower loan interest rates and implementation of policy initiatives helped in maintaining project timelines and promoting sales. Increasing demand for homes in suburban areas, tier-2 and tier-3 cities was observed.
This was led by the large number of people working from home. Plotted developments strike the right balance in the eyes of investors. Buyers who may not want to commit to a large amount of money but still want to make a secure long-term investment are opting for plots. They can build their independent house on the plot of land or retain it as a long-term investment since it requires minimal maintenance.
Read more about what our Director, Mr. Rakesh Reddy has to say about Plotted Developments in this featured RoofandFloor article
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