As of now, we can understand how much the corona-virus has affected our world. The reports say COVID-19 has affected more than 7.55 million people worldwide and has declared over 5.72 lakh lives over the globe. Will the corona pandemic raise the property prices, project delays in India? See, how the Indian real estate after the corona pandemic?
The Corona pandemic mainly affected in banking, real estate, retail, and auto sectors. The impact of the present situation in real estate shows the crisis will face in terms of the project sale, prices, and its launch.
Impact of Corona Pandemic in Indian Real Estate!
In the real estate construction, India imports many types of construction materials from China. But, now international transportation are in trouble and that resultant a huge delay in the launch of many projects. Also, most of the states depended on the migrant workers and due to the lock-down situations, everyone’s moved to their native. The shortage of workers made a huge delay in many project completion.Some experts state that the increased cost of the raw materials will reduce the profit margins of the Indian developers.
The world is shut, the production in China is decreasing day by day which may lead to an increased cost. The increased cost of raw materials will reduce the profit margins for Indian developers. But so far, officially nowhere does it say that the property price is high. Even though people are denying for the investments in the real estate sector. The main reason for this is the uncertainty of the market. Moreover, after the upliftment of the lock-down, the real estate sector will take some more time to end the economic crisis.