Covid19 has severely impacted the world including India. It has had a huge hit on the global economy and the real estate sector seems to bear the brunt. 2019 was a great year for real estate in India. However, ever since the nationwide lockdown came into effect, the real estate sector is suffering just like any other sector. It is predicted that real estate sales will drop by up to 35 percent across major cities in 2020. However, it does present a real opportunity for investors who are in it for the long-haul.
Commercial Real Estate
The commercial real estate segment is likely to be greatly impacted by Covid19 as compared to the residential real estate segment. Although the commercial real estate segment had been performing extremely well in recent years, the slowdown has been apparent. The absorption of the retail segment will be carefully analyzed by investors. The Indian residential real estate segment has been managing high demand and liquidity issues for quite some time now.
As industries immobilize, economies around the world are taking extra precautions. The central and state governments in India have taken certain steps to ensure the prevention and containment of the situation. However, the future seems unpredictable at the moment. The real estate market will need to implement policies to deal with no face to face meetings or visitors.
Lack of Foreign Initiative
As travel restrictions have become common, it is difficult to seek foreign collaboration. Many projects will face delays due to visa restrictions. Precautionary measures like restriction in construction activities will limit the construction of new buildings. Thus, property prices around the country are falling. With people conserving cash, the demand for real estate investment will fall which will lead to a further decrease in property prices. Hence, the right time to invest in real estate in India would be as soon as the Covid19 has been contained.
Invest Now For Higher Returns
If you want to make maximum capital gains on your real estate investment, then, now might be the best time to invest in the Indian real estate sector. Since property prices have fallen, you could own more properties for less and once things return to normal after the Covid19, you could sell the properties for higher returns. Remember, higher risk leads to higher rewards. With this in mind, you could take advantage of technology to look for properties that offer great potential. Two of the most promising projects in Bangalore are mentioned below.
Prestige Primrose Hills
Located in one of the hottest parts of Bangalore, Prestige Primrose Hills is the most competitive real estate project which is very affordable. Having made a good impression on the city, Prestige Constructions is working on this spectacular project on Kanakapura Road. It is the perfect project to invest in or for your end-use. The area is emerging in Bangalore and its future seems promising. Prestige Primrose Hills caters to the budgeted segment. This 20 acres development will be fully equipped with world-class amenities like a gymnasium, jogging track, theatre, swimming pool, and much more.
One of the best things about the project is the fact that it is located near the upcoming metro connectivity. Thus, residents will have better access to transportation. The project will also boast a supermarket which the residents can rely on for their daily needs. Investors will find Prestige Primrose Hills to be an excellent rental investment opportunity. Invest in this project after the Covid19 for maximum return.
Another promising project which real estate investors need to take note of is Arvind Belair. Located in one of the fastest-growing suburbs in Bangalore, Arvind Belair offers a great opportunity for investors to benefit from the IT boom in Bangalore. As property prices have skyrocketed in the past in Bangalore, the recent slowdown is nothing to worry about because property prices are only likely to rise again once the situation is better. With affordability in mind, the Arvind Belair is a project that is working to redefine the meaning of a future home. It is the ideal place for living an urban lifestyle. Arvind Belair is said to boast an ideal gated community which families crave for. The mastermind behind the project is Arvind Group which is a name that needs no introduction. Having created a huge presence in the region, Arvind Group is a name that you can trust. Arvind Belair is located in North Bangalore which is the hottest part of the city. If you are looking for an amazing investment opportunity, then, Arvind Belair is just the project that you need to invest in for maximum returns.
Yelahanka is the fastest growing suburb in Bangalore. It is the ideal place for investors to make a mark. Spread over a total area of 3.25 acres, the project is being built with affordability in mind. The property boasts many amenities such as a state of the art clubhouse, swimming pool, fully-equipped gymnasium, and kids play area, multipurpose room, indoor sports arena, amphitheater, library, power backup, cafeteria, jogging tracks, ample car parking, and ATMs. Moreover, there will also be a grocery store inside the building which will also help boost property prices in the area. One of the best things about investing in the project is the fact that it will be located close to the upcoming metro station which will only further increase property prices in the future. Besides, the Bangalore International Airport is just a 16 km drive from the area. There is social infrastructure in the area such as international schools, hospitals, and office complexes. Moreover, investors should keep in mind that North Bangalore is predicted to be the Manhattan of Bangalore. Hence, there is great investment potential in the area.
The Covid19 offers a great opportunity for real estate investors to purchase property for much less and once property prices return to normal, investors can cash in on their investments. Thus, now is the right time to invest in Indian real estate.