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SENTIMENT IN REAL ESTATE TURNS POSITIVE

SENTIMENT IN REAL ESTATE TURNS POSITIVE

–       Mr. Parveen Jain, Vice Chairman, NAREDCO

With the advent of the festival season, the sentiment in real estate is turning positive and hope floats for Indian reality after a prolonged pandemic of Covid-19 which is still refusing to die down, without anybody knowing how and when it shall be eradicated.

Initially, at the start of the year, this pandemic attacked , gripped and had a stranglehold over all aspects of everyone’s life with nobody having any clue whatsoever about how to tackle this menace. Everyday life came to a standstill. Everything stopped. Everything had to be locked down. Nothing worked. There was gloom all around.

But yet the positive sentiment in real estate has again started prevailing and making its presence felt. Albeit people are coming to terms with the harsh reality of living with this unstoppable pandemic, everyday life and work in all walks of life has resumed and the earlier ‘ hapless sentiment ’ is gradually turning into positive as the festival season beckons us. The hopeful rays seem imminent and approaching.

The positive sentiment is returning gradually irrespective of the unimaginable corona era,  the pragmatic reason being that people have been waiting for quite a prolonged time for the covid-19 to end and now they have got used to living with the corona times and are waiting for the festive season to materialize with positivity.

As the unlocking of almost all aspects of life and work has been taking place, the buyers and investors are again showing rekindled interest and are going for the ‘prized possessions’ of their lifetimes. The Covid-19 can not dampen the spirits of the people forever and after a long wait of the past few months, the expectations from this festive season are high and great.

Affordable HousingHousing for All, Urbanization, Development, Sustainability, Economics, growth and Society are the key words and NAREDCO has been playing a major role to take these things forward via Indian Realty sector. With the implementation of the major efforts which are being put in to tackle the menace of the corona-pandemic and with sustainable efforts of the Indian Realty sector, the hopeful expectations of the masses can be turned into ‘Reality’ by the “Realty’ sector.

To add on to the positive sentimentgood things have been implemented by the government in the pre-corona times like RERA (Real estate regulation act) which are buyers friendly, addressing the issues and grievances of the buyers like delay in projects and finding solutions for them. One more change which is expected is the ‘single window clearance’ which if implemented can prove to be a boon for the buyers and all stakeholders as it can help in diminishing the unnecessary delay in projects and make the process of clearances much easier and less cumbersome. Further changes as and when required, are communicated to the government by NAREDCO with thorough analysis and discussions.

To reiterate, once this corona-era ends, seminars and discussions organized by NAREDCO with the government and all stake holders in pre-corona times shall come back with full fervor in the post-corona times and will help in removing the bottlenecks and shall give further boost to the Indian realty sector, increasing the positive sentiment manifold.

The positive sentiment is that with festival season around and as soon as the corona crisis diminishes with the arrival of the much awaited vaccine or cure, the work life and all aspects of life shall come back to normalcy and once this happens, everything shall come back on the right track and good consolidation of the Indian real estate industry in a major way shall start taking place.

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