By Soniya Gaonkar on Sep 7, 2021 6:59:02 PM
Experts are of the opinion that time plays a major role when it comes to any form of investment. Buying a residential real estate is one such form of investment that also determines the kind of life you and your family spends as a whole. This is one of the main reasons why the decision of buying a house must be taken with a lot of care and attention to several aspects.
One of the aspects that must be taken into consideration is the condition of the market, the price rates of the properties and also the home loans and their rates from the banks and the other financial markets. The outbreak of the global pandemic has touched every sphere of the world economy. The sphere of construction is certainly no different. The pandemic has definitely affected the real estate development sector which has affected the market prices and also the purchase behavior of the buyers.
The Pune Real Estate Market
Image Source: Zricks Website
Pune is one of the most favorable cities in India when it comes to real estate construction. The city has witnessed several real estate projects that has been commenced and completed in different parts of the city. These projects have been of various scales and have belonged to either the commercial arena or the residential segment. Some of the biggest players or developers have been involved in the scenario and have developed truly commendable projects.
In this context it can be said that buying a flat is good investment in Pune. However, the scenario have changed considerably soon after the outbreak of the pandemic.
Introduce Current Real Estate Market After Pandemic
The outbreak of the Novel Corona Virus has affected the real estate industry in Pune to a great extent. True soon after the outbreak the number of new project launches have gone down by a huge scale. In the current times the developers are no longer declaring any new projects. On the contrary they are working to complete all the projects that they have begun as of now.
The main focus is on completing the projects on their due date and to deliver the projects to the customer on the dates that had been earlier committed to them. There has been some considerable failure in this context and the developers and the boulders have received some serious flak in this context. Apart from completing the projects on time now the companies are also giving extra attention to the aspect of quality that they are bringing in their projects. The process or the cycle of the construction is also being kept environment friendly. Serious rules and regulations have been established in this context.
Not All Gloom And Doom
However, if a general buyer feels that the future of real estate after covid-19 is all bad and disheartening, then it is not true. In fact the experts of the domain have mentioned that this I but just a temporary phase. The situation is likely to improve son in the coming times. In fact it can be seen that not all the spheres of construction have been hit all that bad. The domain of luxury homes in fact happens to be quite good. Reports have summated that there has been arise of ne launches in luxury homes by 71%. In more ways than one it can be said that this is a great time to invest in real estate property.
How It Is Changing Rapidly
The situation for the construction industry has definitely changed in the recent times. The outbreak of the pandemic has made the situation a tad shady for the construction industry as a whole. As the economy has taken a hit and the professional and their corporate careers have been put at stake the buying power has gone down for a massive number of people.
This has definitely affected the prices of the real estate properties and project prices. The same can be said for the commercial real estate properties as well. Without a doubt it can be said that these is a strange time for the real estate industry. In this scenario you can often be faced with the question that is it a good time to buy a home now in Pune? Let us take a detailed look at the problem in hand.
Elaborate Why You Need to Buy a Home Now
In fact the experts of the market have agreed to the fact that this could be one of the most favorable times for you to invest in a real estate property. Now if you think that is buying a flat a good investment – then this is a question that has been answered and put to rest for a very long time now.
For a very long time it has been agreed that investing in a residential real estate property is one of the best investments to make. Additionally now the process of the properties are quite low. This could be attributed to the decline in demand in the market. At the same time the banks and the other financial institutes are offering home loans at really record low rates. This can come as a huge benefit for the buyers as now they can avail far more lucrative and attractive loans for buying their homes.
Introduce Kohinoor as a Top Construction Company in Pune
The Kohinoor Group Pune is one of the premier real estate developers in Pune. This group has been in the market for nearly four decades now and has developed some of the most attractive properties in different parts of Pune. The Group is known for providing unflinching quality and great customer service to all their customers. A quick look at their completed projects will help you to ascertain the kind of finished product they offer their buyers in the market.