Real estate developers are hopeful that the market for realty industry will bounce back in 2021 seeing the prospects of economic stability and favourable policy landscape. Going by their word, the Unlock phases, active govt support in form of its initiatives and the recently gone festive season have set the momentum for growth which they expect to continue into 2021 as well. The COVID-19 pandemic has taught us many lessons and the significant one is that you must have your own dwelling to survive unprecedented times.
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As per Pankaj Bansal, M3M Director’s opinions, “We expect that 2021 will see consolidation of the industry in favour of organized developers, leveraging technology to enhance customer experiences and customer-centricity as the key objective of developers. In the commercial segment, the high-street concept has gained momentum as compared to malls and this will continue in the coming year. The residential segment is already on the path to recovery owing to the pent-up demand and the need to invest in well planned, spacious homes amidst extended work from home.”
Another realty giant, DLF Ltd. CMO, Mr Karan Kumar’s opinion is that “the demand for exclusive residential properties will likely continue well into 2021. Also, with home-loan rates being all-time low, the demand and inquiries have seen a steep jump, and we expect this to continue even in the next financial year. We see a number of NRIs either moving back to India or looking at investment options here. This will boost the demand for homes starting from mid-segment housing to luxury and super luxury homes,”
Amarjit Bakshi, Chairman & Managing Director, Central Park, voiced a similar sentiment, “Housing sales saw a sharp recovery in the seco.nd and third quarter in all top cities compared to the preceding quarter. With this, it is further expected that the sector will exhibit healthy growth in the future. There is an emerging trend of settling into townships due to the availability of a plethora of amenities available to the residents within the vicinity. Integrated urban areas with spaces that are multi-purpose for use will gain more momentum.”
Anuj Kumar Garg, Vice President Customer Engagement & Distribution, Viridian RED said, “The prospect of Indian commercial real estate seems resilient in 2021. In the last few months, a couple of transactions led by global firms in the Noida region have strengthened the market sentiments. Noida has emerged as a premium business destination and the announcement of mega infrastructural developments like Film city & Noida international Airport further bodes well for its realty market. Lowest interest rates, NRIs return to India, aggressive policies of UP government, thrust to the manufacturing sectors have boosted the demand of the office space market in the region leading to a South Korean mobile brand & global IT giants company relocating their offices to Noida.”
There’s good news for commercial property market as well. The traction in commercial real estate has been witnessed in the third quarter of 2020. A JLL report points out that net absorption increased by 63% to 5.4 mn sq. ft in Q3 2020. With opening up of the retail segment especially malls with all safety measures and precautions, customer footfalls are continuously increasing to match pre-COVID level. M3M commercial Property in Gurgaon forms an attractive investment option with lucrative return potential.
Ravish Kapoor, Managing Director, Elan Group, said, “The ‘Unlock’ phase has witnessed an uptick in retail sales & leasing activities in commercial real estate. We foresee the commercial retail segment to lead the road to growth in 2021. We have received a positive response from customers in the past few months owing to the revival of consumer sentiments in real estate.”
The COVID pandemic has enabled us know the need of owning a home and commercial property in order to save oneself from paying heavy rents. If you are on a lookout for affordable yet reliable property options in Gurgaon, you must explore wonderful options available from M3M Projects Gurgaon. You will find both M3M commercial Property in Gurgaon and M3M residential projects in Gurgaon of your choice.
