Second Waves in India Hits Real Estate Since 2008 COVID- 19

COVID-19 second wave may pause realty sales momentum for now but demand set to rise



The onset of the second wave of the Covid-19 pandemic across the country is expected to slow down the sales momentum as local restrictions and partial lockdowns in key property markets is expected to delay the conclusion of deals.

The sales velocity gathered over the last seven months owing to record-low interest rates, offers from developers, stamp duty reduction and renewed interest among homebuyers for relatively bigger homes is likely to be impacted at least for the next few weeks.

The portal will give realtime information about the list of private hospitals, availability of beds in every hospital, location and the contact of person in-charge of bed management. “The dashboard will save a lot of time for people searching for beds.

Registrations dominated by deals transacted in lower stamp duty December-March period, new deals in April much lowe

The onset of the second wave of the COVID-19 followed by the lockdown announced by the Karnataka Government has slowed down the residential sales momentum and is expected to further delay the construction activity in Bengaluru.

According to builders and brokers in Bengaluru, residential property sales have already dropped by 10-15% since the outbreak of the second COVID-19 wave in the city.

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