Homebuyers Trust Branded Developers
Ashish R. Puravankara, Managing Director, Puravankara Limited
What are the changes that have emerged during the pandemic?
One of the few aspects that emerged out of the cloud of uncertainties last year, was the importance of home ownership. Recognizing this need of the hour, the real estate sector was quick to revive its operations, which were temporarily paused during nationwide lockdowns.
This industry was pushed to leverage technology to provide homebuyers with a seamless, virtual solution. With a focus on convenience and transparency, this move enabled homebuyers to rely on branded developers, and build trust, which was key to the buying process. Furthermore, this shift led to an inflow of NRI investors, who were looking for assets that can be monetized or utilized, once they return to the country.
As remote working continues to be the prescribed norm for social distancing, there is an increased demand for larger spaces that can also be converted to a home office or used for storage. Additionally, there is a renewed interest towards luxury homes and plotted development because of their ability to provide exclusivity with inclusivity.
What are the learnings for the realty sector?
A series of developments of this nature has propelled the real estate sector to overcome the initial hurdles and has resulted in strong performances in the last two quarters of this fiscal year. With concerns of a second wave rising every day, as corporates, we must ensure that our learnings are shared, and an environment of holistic development prevails. Moreover, our innovations and solutions have to be powered with safety, and sustainability for the convenience of consumers.