Who would have thought that the tech advancements and innovations will be a boon to the real sector in such COVID situations? The transformation is likely to reshape the future of the infrastructure industry of India.
The unprecedented situation in a way has proved to be advantageous for homeowners rather than for those who have rented the accommodation.
Currently, construction projects are halted, but certain things need to be followed at a construction site after the lockdown is lifted.
The Corona pandemic has affected the real estate sector. This has resulted in subdued demand and liquidity crises for a longer period. Also, there’s a shrieking halt of new developments and pushed the feasible recovery further away by a few years.
Preserving cultural heritage is like conserving gold. It is an asset for a country which attracts tourists from all over the world. Not just tourists but it also attracts real estate buyers.
The Covid-19 crisis has taught us most important lessons on how to survive pandemics. Real Estate is the severely hit sector that needs to convert old methodologies into new digital modern technologies in future.
The halt in the construction activities due to coronavirus outbreak has a major setback on India Realty. The lockdown and movement of workers to their homes back in villages are affected the construction activities. In view of the current scenario, RERA has relaxed the project completion deadlines.
The Coronavirus outbreak has taken up the whole economy, while struggling to combat this disease government has given a relief in property tax deadlines.
The government is undertaking measures to recover the real estate sector affected by COVID-19.
In the COVID-19 crisis, RBI has a relief for borrowers by allowing a moratorium of 3 months on EMI installments from 1st March to 31st May 2020.