Is this the Right Time to Invest in Property? - Affordable Housing Gurgaon

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The Right Time to Buy Property In Gurgaon

Property prices are not stable all the time. Stable property prices, interest rates hovering around 15 years now, and simply ready to move property in Gurgaon or near completion projects being available in the market are some of the big reasons which ideally make it one of the best times to invest in the property.

However, amid the turmoil caused by Covid 19 the real estate sector has been also impacted a lot like other industries. 

Recently Housing and National Resl Estate Development Council have conducted a survey titled “Concerned yet Positive - The Indian Real Estate Consumer ''(April - May 2020) the findings of which will provide you some solace to the industry. According to the report real estate 35% is still perceived as the preferred mode of investment followed by gold is 28%, fixed deposits are 22% and stocks are 16% and homebuyers are likely to slowly return to the market in the coming 6 months.

However many buyers still consider property prices unaffordable despite the fact that price points of residential properties realty have remained muted for the past few years.

Commenting on the same thing Dhruv Agrawal Group CEO, Housing, Makaan and Proptiger said that “Our survey clearly shows that the potential homebuyers who were searching for the affordable flats in Gurgaon have been pressed a pause button for the time being because of the liquidity concerns and uncertainty over the COVID 19 pandemic”. But a majority of them will gradually start returning to the market in the next upcoming months.

Pradeep Agarwal Founder and Chairman of Signature Global Group, ASSOCHAM National council on real estate, Housing, and Urban Development have said that the prices are already low in real estate and developers do not have a huge inventory of RTMI properties to meet the overall demand of the market.

The focus has to be on developing and completing the existing projects in hand. However to execute it with control over prices the developers need support from the government. The present government has come up with many measures to help the real estate industry but the need is to address all the issues in one go.

The crisis has now engulfed the whole country and calls for immediate action so that the “Housing for All” dream could be met.

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Thankfully the impact of the lockdown on the homebuyers has been positive so far. Many schemes were announced by the developers, apart from all-time low interest rates and subdued property prices for quite some time are the reasons enough to rekindle the interest of the customers.

After the slew of measures taken by the govt. The market was seeing an uptrend and the post lockdown schemes provide additional reasons to invest in the real estate before the market goes northward.

The resilience of the govt. towards the economy of the country has been reflected in the measures it is taking.

Once the revival takes place which is to be expected in the next 6 to 8 months the prices will go up and then it would again become very difficult for fence-sitters to get their hands on the best real estate asset within the fixed budget that they have said Dhiraj Jain, Director, Mahagun Group.

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