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Step by Step, Indian Real Estate is Reviving From Covid Effect – Report

Soon after the lockdown was lifted, the Indin economy has been experiencing a ‘V-shape’ recovery, and everything has started to get back on track slowly and steadily. Even, the Indian real estate market is showing signs of great recovery where both residential and commercial property sections are healing from the Covid-19 effect. The pandemic came as a surprise to all of us. It brought everything to halt. From small to medium to large businesses, almost everything suffered the wrath of Covid-19.

Thankfully, things are getting better now. All thanks to the fast vaccination drive which allowed us to get vaccinated at a faster pace, so that, we could get back to live an almost normal life. The commercial office spaces were left abandoned when the ‘Work from Home’ policy was applied in almost every office and business, the renting and leasing saw a decline as people were more inclined towards saving more and spending less because no one knew when the lockdown will come to an end, all these things made the Indian real estate market slow in terms of economic growth. However, things are taking a sharp turn now and we are getting back on track. Also, read  – Which is a Better Option? Real Estate? Or Stocks? Or Both?.

“The market seems to have factored in the very low likelihood of a complete lockdown as was seen last year due to the ample availability of the Covid vaccine. Comparatively lower residential prices, attractive interest rates, and higher household savings rates over the past year should support housing demand going forward. With the upcoming festive season, the market is gearing up for new project launches and consumers are likely to reciprocate,” said Shishir Baijal, CMD, Knight Frank India.

The top seven Indian property markets saw a jump of a record 124% in housing sales, as per the data collected by JLL, and the data collected by Knight Frank showed a rise of 92% in housing sales.

“Developers have already started launching optimally sized apartments to capture changing consumer preference across most of the cities. The Indian residential sector is expected to witness sustained growth in the coming quarters. Renewed buyer confidence has been instrumental in the recovery of the housing market in Q3 2021, which recorded a good volume of sales and launches compared to the same period last year and almost inching towards the pre-covid era,” said Siva Krishnan, head – residential, India, JLL. Also read – Commercial Real Estate in Post-COVID World.

Among the large metro cities, Chennai, Bengaluru, and National Capital Region (NCR) saw the highest recovery in terms of sales and purchase.

In terms of renting and purchasing, the real estate market is heading towards great stability. It is believed that, by the end of the fourth quarter of 2021, the market will see a higher transactions rate, as people are now more confident and are actively taking part in reviving the economy.

Top Reasons for Purchasing Business Property in Noida

Delhi is one of the most developing and advancing cosmopolitan cities of India. It has seen a sudden boost in growth, particularly in terms of commercial real estate. Commercial real estate is real estate that is for business ventures. In the past years, growth has been propagated severely in terms of communication and transport, leading to the spread of urban ideas.

Delhi-NCR has witnessed a major rise in urbanization where Noida and parts of Gurgaon fall under this area. Noida has great connectivity with Delhi and is a hub of many industries. This attracts individuals from different parts of the country for employment, paving the way for increased demands of business commercial property in Noida. Noida is a well-planned city and has abundant job opportunities, industrial urbanization, and residential estate, therefore it attracts people to invest in commercial real estate properties

You can read also5 Things to Know About Buying A Commercial Space in Noida

Here are the top reasons why you should buy commercial property in Noida: –

1.) Location-

Noida is located near Delhi and enjoys the conveniences of the metropolitan city. Due to the great advancement in recent years, it has developed immensely in the fields of connectivity and transportation not only with Delhi but also with Haryana, Agra, and Faridabad. Wide roads, modern infrastructures, and career opportunities have made this city a core of commercial real estate. Business property in Noida has seen a huge incline, primarily due to its location.

2.) Affordable Prices: –

Commercial property in Noida is much more affordable than that in Delhi. The commercial property in Delhi is expensive because of the city’s brilliant connectivity and industrialization. This is one of the motives why you should be willing to buy commercial property in Noida that is close to your budget.

3.) Market Demand: –

Being a city of great connectivity, Noida attracts people from other parts of the country due to varied reasons. This increases the level of population. Moreover, the crowd here boosts the benefits of commercial property due to increasing returns and reduced chances of vacancy. This creates a market demand ensuring high returns- a reason why you would be willing to go for a commercial property in Noida, where the outstanding one is, Waveone-best commercial property Noida.

4.) Presence of top-notch brands in Noida-

Noida is an industrialized city with urbanized equipment. The residence of big malls, luxurious hotels, and branded shops flag the way for more crowds. Major companies like Wipro, HCl, Adobe, IBM, Sapient, TCS, and Infosys have their departments here. This adds great value to all the commercial property established in this region. By sales, many people invest in Waveone-best commercial property Noida.

You can read also – The future of the commercial real estate

5.) Facilities and Maintenance: –

Noida is an overabundance of people going to offices and institutions. The dense population has led to the endowment of great facilities such as transport, electricity, hospitals, water supply, high-speed internet networks. It is the residence of some of the reputed brands and educational institutions. Therefore, the maintenance provided to any commercial estate is safe, sound, and not of high budget.

Therefore, the above-described reasons map interests in people to invest in the commercial estate in Noida. If you are willing to buy, you can for Waveone which is one the best commercial property in Noida.

You can read also – Waveone Commercial Property in Delhi NCR