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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: 2 weeks ago
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  • #81

    #81

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

    The Indian real estate sector is now opening up to adopting and investing in digital tools more extensively, to be able to cut down on costs and maximize their outreach and sales
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    • #82

      #82

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

      In an attempt to boost the real estate sector, the Maharashtra government is planning to slash stamp duty and registration costs.
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      • #83

        #83

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

        Originally posted by Malvish View Post
        In an attempt to boost the real estate sector, the Maharashtra government is planning to slash stamp duty and registration costs.
        Hahah, seems joke to me... do you think Stamp Duty fee is the reason why people are not buying or cant'buy Home??

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        • #84

          #84

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

          Originally posted by Malvish View Post
          The Indian real estate sector is now opening up to adopting and investing in digital tools more extensively, to be able to cut down on costs and maximize their outreach and sales
          No one will buy home online. We already have 99Acres and Magicbricks like portal for listings...

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          • #85

            #85

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

            Originally posted by anujwadhwa View Post

            No one will buy home online. We already have 99Acres and Magicbricks like portal for listings...
            Yes, selling homes online is not easy, especially to Indians.

            In India, buying a property is always an emotional proposition. Hence before buying many people prefer paying visit to the site, take a look at the sample apartment, check on the fittings, check views from the rooms, vastu-compliance of the flat/house, take a look at the water-supply situation, what kind of community is around, etc etc. Hence a lot of due diligence goes on before buying an apartment.

            For many it means putting their hard earned life's savings into it. Here in India, property prices are never fixed. There is always a room for negotiation. If we make it online it has to be (generally) at a fixed price.

            In most real estate deals in India black money is involved. So if RE is sold online, money deals will have to be transparent (i.e. in white) because buyers will use some form of trusted & verifiable mode of payment.
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            • #86

              #86

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

              Originally posted by MANOJa View Post
              Originally posted by anujwadhwa View Post

              No one will buy home online. We already have 99Acres and Magicbricks like portal for listings...
              Yes, selling homes online is not easy, especially to Indians.

              In India, buying a property is always an emotional proposition. Hence before buying many people prefer paying visit to the site, take a look at the sample apartment, check on the fittings, check views from the rooms, vastu-compliance of the flat/house, take a look at the water-supply situation, what kind of community is around, etc etc. Hence a lot of due diligence goes on before buying an apartment.

              For many it means putting their hard earned life's savings into it. Here in India, property prices are never fixed. There is always a room for negotiation. If we make it online it has to be (generally) at a fixed price.

              In most real estate deals in India black money is involved. So if RE is sold online, money deals will have to be transparent (i.e. in white) because buyers will use some form of trusted & verifiable mode of payment.
              CORRECT, at max you can provide all the details and info of the property, better pictures (real, not the fake ones by broker), correct dimensions, Geneuine testimony of the residents and exisiting users, detailed video but I think all these things are already on the Real Estate Portals.

              It's same as matrimonial sites, you can find a girl online but you can't marry her wihout meeting in Real haha.

              Last edited August 17 2020, 06:08 PM.

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              • #87

                #87

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

                Originally posted by anujwadhwa View Post

                Correcy, at max you can provide all the details and infor of the properpty, better pictures (real, not the fake ones by broker), correct dimensions, Geneuine testimony of the residents and exisiting users, detailed video but I think all these things are already on the Real Estate.

                It's same as matrimonial sites, you can find a girl online but you can't marry her wihout meeting in Real haha.
                True, online selling of Property is at a very nascent state in India and as I said earlier, India is a very typical market and most Indians like to see and feel the Property before buying/booking.
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                • #88

                  #88

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

                  In a well thought move, banks are planning an EMI deferment strategy for restructuring home loan repayment. It is an attempt to help avoid having to classify defaulters as non-performing assets, as they believe that this may not be the right time to attach assets.
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                  • #89

                    #89

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

                    Originally posted by MANOJa View Post

                    True, online selling of Property is at a very nascent state in India and as I said earlier, India is a very typical market and most Indians like to see and feel the Property before buying/booking.
                    I forgot to add and as i said earlier, online selling of Property is at a very nascent stage in India and it may take a couple of years for it to get accepted by buyers.
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                    • #90

                      #90

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

                      The Maharashtra state revenue minister, Balasaheb Thorat, said that the state may cut stamp duty by 2-3%, in a bid to boost property transactions.
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