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How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

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How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

Last updated: 20 hours ago
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  • #41

    #41

    Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

    Some developers share that procuring materials from Indian suppliers will however be costlier than Chinese imports and that may affect the already struggling market to cater to buyers who are waiting for property prices to fall.
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    • #42

      #42

      Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

      How is the luxury housing market going to be affected by the Coronavirus pandemic?

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      • #43

        #43

        Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

        Originally posted by markitnow View Post
        How is the luxury housing market going to be affected by the Coronavirus pandemic?
        According to my personal experience, while resuming the house hunt, none of the rates has fallen down till now. Sellers and builders are absorbing some how and not showing desperation though you might find some depreciation in project which are in launch state or Under Construction (far from delivery) and that too some lucrative offers but not exactly the price cut.

        Real Estate market has yet to see the price correction, I would say at least wait for 2-3 months if you are looking for end use product or even investment.

        Hence, NO Change in the Prices.

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        • #44

          #44

          Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

          Originally posted by anujwadhwa View Post

          According to my personal experience, while resuming the house hunt, none of the rates has fallen down till now. Sellers and builders are absorbing some how and not showing desperation though you might find some depreciation in project which are in launch state or Under Construction (far from delivery) and that too some lucrative offers but not exactly the price cut.

          Real Estate market has yet to see the price correction, I would say at least wait for 2-3 months if you are looking for end use product or even investment.

          Hence, NO Change in the Prices.
          I agree with it - there doesn't seem to be any substantial price correction. In fact, I had read in an article that developers were not ready to bring the prices down owing to the costs incurred on developing their projects.

          Coming back to luxury housing - the demand for luxury housing was already low before the pandemic happened and presently, there seems to be little or interest to throw money into such expensive projects.

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          • #45

            #45

            Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

            All developers are waiting for others to reduce prices, before reducing their own. I think the the new land-deals that would happen would be at lower prices, and would translate to lower prices. The current UC projects have already had their land deals in the past at high prices, and the developers are reluctant to reduce their margins. When new projects get launched, the current UC ones will be forced to lower the prices.


            Last edited July 7 2020, 01:51 PM.

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            • anujwadhwa
              anujwadhwa commented
              Editing a comment
              Ture, I totally agree on this.
          • #46

            #46

            Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

            Totally agree with you guys. Currently, buyers are in a wait-and-watch mode, waiting for the prices to at least not rise, if not fall.
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            • #47

              #47

              Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

              Most big Developers are not in a mood to decrease the prices, in fact, they are looking to increase the prices owning to increase in the cost of labour and due to effects of an increase in the price of diesel/transportation/material.

              We may see small Builders holding on to the current pricing for some time to come.
              Last edited July 8 2020, 11:22 AM.
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              • #48

                #48

                Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

                As per statistics, there has been a 5% drop in real estate prices in major metros, in the April-June quarter.
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                • #49

                  #49

                  Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

                  Originally posted by Malvish View Post
                  As per statistics, there has been a 5% drop in real estate prices in major metros, in the April-June quarter.
                  do you see more drop in coming days / months??

                  I wish and pray it fall more 10% because I am planning to buy my dream house, hunting started.

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                  • #50

                    #50

                    Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

                    Originally posted by anujwadhwa View Post

                    do you see more drop in coming days / months??

                    I wish and pray it fall more 10% because I am planning to buy my dream house, hunting started.
                    Look for resale deals. One relative is also looking to buy a 3/4 BHK apartment on MG Road or New Gurgaon and some good discounted deals are available all over GGN. If you have the capability of making full payment in a short period, you should be able to get 5 to10%+ discounted deals viz pre-corona days. RTM/near RTM deals are far & few and r often with lower discounts, but plenty of under-construction apartment deals.
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                    • anujwadhwa
                      anujwadhwa commented
                      Editing a comment
                      Yes, my aim is RTM only, can't take any risk although not looking for immediate move.My targeted location is GCX. Full payment in short duration is possible. Looking for some more tips and tricks on bargain / negotiation lol
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