SIGN IN YOUR ACCOUNT TO HAVE ACCESS TO DIFFERENT FEATURES

FORGOT YOUR PASSWORD?

FORGOT YOUR DETAILS?

AAH, WAIT, I REMEMBER NOW!
Residential Builders in South Delhi, Real Estate Company, Construction in Delhi
  • Financial Partners
  • Investor’s Desk
    • Corporate Announcement’s Desk
    • Corporate Governance
    • Financial Information
    • Shareholding Pattern
    • Notice of Board Meeting
    • Quarterly Financial Results
    • Newspaper Advertisements
    • Regulation 30
    • Annual Return
    • Downloads
    • Disclosures under Regulation 46 of LODR
    • Disclosures under Regulation 62 of LODR
  • Media & Articles
  • Home
  • About Grovy
    • Grovy Story
    • Management Team
    • What is EPP model?
    • Fun Facts
  • Projects
  • Service Profile
    • Joint Venture & Purchase
    • Turnkey Solution
  • 360° Virtual Tour
  • Clients’s Speak
  • Contact
+91 9810522153
  • Home
  • Media & Articles
  • Media & Articles
  • Real estate industry in the post-COVID-19 world
Wednesday, 02 December 2020 / Published in Media & Articles, Real Estate Industry

Real estate industry in the post-COVID-19 world

Mr Ankur Jalan

Publication: 99 Acres
Expert Speak | Nov 26, 2020

 

The COVID-19 pandemic has impacted us in numerous ways. Every sector of the economy has taken a beating under the circumstances, including the real estate sector. Hence, the demand and supply dynamics in the property market are expected to change like never before.

The real estate industry will have to reinvent itself to comprehend, plan and execute in novel ways to fulfil the newly arising requirements. Creative disruption is the need of the hour and developers need to innovate and fast-track the adoption of latest technologies- such as construction technologies, Internet of Things (IoT), Artificial Intelligence (AI), and home automation. From now on, the project planning would have to be inclusive of social distancing norms, newer construction methods, mobility and health safety considerations.

The changing scenario
Due to the lockdown, a large number of people switched to the work-from-home model, and the concept has picked up steam, especially for the workforce in the IT and related sectors. Post-COVID-19, offices shall reopen and buzz again, but it would definitely not be the same as before. This will affect the commercial and residential segments. Hence, the realty sector needs unique ways to deal with these changes to stay afloat.

Emerging trends
Specific new patterns that are expected to rise in the post-COVID-19 world include:

Home ownership
COVID-19 has changed a buyer’s way of thinking. Owning a home has become essential despite an economic slump and the accompanying uncertainty. People who previously felt comfortable living in rented spaces are planning to buy a home as that is the only place where one can feel safe and secure. Hence, the residential sector is bound to gain prominence over offices and will influence our real estate choices.

Distance would not matter.
Remote working is here to stay for long, even after the pandemic gets over. Many companies will include work-from-home in some manner in their business models for the sake of their employees’ safety. Therefore, commuting will no longer be an issue for those working from homes, and there would not be a need to buy a house closer to one’s workplace. Consequently, people will be open to moving to a location depending on other factors such as proximity to medical facilities and educational institutions.

Digitisation
The realty sector has been swift in its transition to the digital medium. It has seen digitisation in terms of transactions, capital deployment, virtual tours, and property management and consumption patterns. Even Artificial Intelligence (AI) and Virtual Reality (VR) have played a significant role in enhancing the customer experience.

High demand for affordable homes
In recent years, several initiatives by the Government have given a significant thrust to the affordable housing sector. And as many were forced to leave their rented accommodations during the lockdown and go back home, they will now look for affordable options to cater to their residential requirements.

In the post-COVID-19 era, there is going to be a massive shift in homebuyers behaviour. While the realty sector has suffered due the decreased cash flow, it has also been quick in adopting digitisation, which will surely outlive the pandemic impact and revive the realty industry.

  • Tweet

What you can read next

Family Home in Delhi NCR
Choose the Perfect Home for your Perfect Family
Hire A Professional To Build Your Dream Home
5 Reasons You Should Hire A Professional To Build Your Dream Home
Builder Floor in Delhi
5 Reasons Why You Must Convert Your South Delhi House into Independent Floors

Categories

  • Media & Articles
    • Broker Events
    • Corporate Events
    • Property News in Delhi, NCR
    • Real Estate Industry

Recent Posts

  • Corporate Event

    Corporate Event 26th August 2023

    ...
  • Building Dreams

    Building Dreams: The Grovy India Approach to Customer Satisfaction

    Introduction: In the intricate tapestry of real...
  • Boutique Apartments

    Unveiling the Essence of Boutique Apartments: A Grovy India Special

    Introduction: In the vibrant tapestry of real e...
  • Navigating Commercial Real Estate

    Navigating Commercial Real Estate: Grovy India’s Guide to Success

    Introduction: The realm of real estate is a dyn...
  • Grovy India's Emphasis

    Bringing the Outdoors In: Grovy India’s Emphasis on Light and Ventilation

    Introduction: In the quest for creating healthi...
Grovy India

Grovy India

Grovy India limited was established in the year 1985, with a purpose of developing extraordinary real estate properties that would change the scenario of the construction industry.

Equipped with teams of skilled and experienced engineers, architects, planners and designers Grovy has established itself as developers of ‘Boutique Apartments’.

COMPANY

  • Home
  • About Grovy
  • Projects
  • Service Profile
  • 360° Virtual Tour
  • Client’s Speak
  • Contact
  • Financial Partners
  • Investor’s Desk
  • Media & Articles

CONTACT

Grovy India Limited
122, Vinobapuri, Lajpat Nagar 2,
New Delhi - 110024, India

Mobile: +91-9810522153
Phone: +91-11-46740000

Email: info@grovyindia.com

PROJECTS

  • Builders in East of Kailash
  • Builders in Greater Kailash
  • Builders in Kailash Colony
  • Builders in Lajpat Nagar
  • Builders in Hauz Khas
  • Builders in Safdarjung Enclave
  • Builders in Sarvodaya Enclave
  • Builders in South Delhi

© Grovy India Limited. All rights reserved • Powered By Talking Image
• Sitemap

TOP
Call Now Button