Covid-19 has been a whole roller-coaster ride for people globally. What started in China, spread all across the world within a matter of a few months. The initial few months were catastrophic. We were face to face with a rather enemy that we barely knew anything about. It took over us and had complete control.
We were left helpless and weak in front of the pandemic.
However, further research and more study on the subject enlightened us about the ways that we later on resorted to. The matters have not been sorted out completely but we have come way forward that where we earlier were. With the exceptional hard work and research, we are now able to work from our homes and have a lot of disruptions eliminated. These revolutionary two years have had us spend a lot, perhaps most of our time at our homes. This made people re-evaluate the attention that they pay to their homes. Earlier people did not have enough time to invest in their interior designing and home décor. Now they do.
Younger generation attracted towards Affordable Housing
Studies have shown how there has been a significant increase in the purchase of property in the last two to three years. Interestingly enough, the younger generations who tend to resort to rental apartments rather than owning them, have shown a fair interest in buying property. They do not want to be held how by the monotonous procedure of and the vicious circle of monthly rent payment and having very little ownership of the space that they are living in. There has also been a massive craze among the buyers over the upcoming affordable housing projects in Gurugram.
It seems to be like a perfect time for these housing projects to flourish. Given that they fall under a relatively lower price range, they feel like a viable option for people belonging to almost all classes and income groups. Since things have been shut down and we are left with our work from home tools, that are our dear friends -laptop and internet, we have come to realize that our homes are the most vital aspect of our sustenance. Plus this has also helped us cut down our other expenses that went into commuting, eating at restaurants, traveling, holidays, fuel, etc. buying a house is not an ordeal nowadays. Especially in the situation that we are provided with convenient options like the upcoming affordable apartments in Gurugram.
The pandemic has truly been a blessing for these projects. It is surprising because until we weren’t aware of what it would be like to work and survive in a global pandemic, we wouldn’t have thought that the real estate industry. Which primarily functions on the outdoor interactions and human labor, would actually benefit from it. If you think about it, the IT sectors that worked on software technologies and computers seem to be readily optimized for the situation.
An adverse effect of Covid’19
The marketing companies that function on interpersonal communication and mass reach also seem to be unaffected or barely disrupted by the virus. Because well, we cannot look over how mass communication has actually grown and expanded during the pandemic. People have become all the more active on their socials and otherwise. That is a whole different topic and we will not get into that for the time being. It is fascinating though, to see how absolutely possible it is to work from home and not having to bear any major consequences apart from the health concerns.
To sum up, about the blessings that the pandemic has showered on the real estate sector. We will get into the following points that briefly highlight the key takeaways from this blog:
The pandemic has allowed cutting down our costs and focusing on other than regular aspects that we wouldn’t otherwise. With the rising demands for upcoming affordable apartments in Gurugram, the time seems just about right to hop on the bandwagon.
Builders have enough time
Even if people booked the property, both of the parties- the builder and the buyer have enough time to look for the flaws. And, get everything settled before moving into the apartment. The builder that enough time for getting the repairs/fixations done and the buyer has enough time to be sure about it in every way.
You will be able to enjoy the newness
If you happen to move into a new house in the middle of a pandemic, you will be spending a huge amount of time in your new house. Since you do not have to go anywhere. You will be able to enjoy this new chapter of your life without compromising on other aspects like work or traveling. Usually, people get so involved in their busy lives, that before they know it. This feeling has already passed them buy and you cannot replicate it.
4. Builders have been eased off the pressure
Due to a rising demand for property, driven by the aforementioned reasons. The builders were under a lot of pressure to deliver projects under a time constraint. Now that things are functioning at a relatively slower pace. It is providing enough breathing space to meet the demands of the buyers. Especially in the upcoming affordable housing projects in Gurugram, studies have shown a fair percentage of increased demand and interest.
5. Better reach
Since the lockdown, the internet has been humankind’s best friend. People have resorted to social media platforms for all sorts of communication and business purposes. We saw many local businesses emerge and flourish during the pandemic. This has made the dealers and sellers relatively easier to advertise and reach their target audience on a mass scale. The advertising tools and software used for promotional purposes have also advanced and become easily accessible for companies.
Ways in which global pandemic was helful
These benefits however are only accessible to the people who were already skilled. And equipped with the resources that supported work from home or online operations. There are pros and cons of the same. But an optimal utilization of resources towards the achievement of larger goals is the way to sustain such situations.
Also, read our blog on Affordable Housing