New Delhi, May 19 (Hindustan Times). The year 2023 seems to be an encouraging year for the real estate sector, which is already facing recession after the Corona transition period. Businessmen associated with the real estate sector say that there was a famine of buyers in the market for the last three years. Especially during the Corona transition period, buyers were completely out of the market, but now once again buyers have started returning to the real estate market, due to which the sector is expected to return to its glory.
Experts say that till now in the year 2023, there is a very positive trend in terms of new bookings. The monthly growth rate of new bookings has reached 11 per cent by the end of April. Especially during the second fortnight of March, there was a strong increase in new bookings of homes. It is believed that if there is no major change in the situation, then by Diwali this year or maximum by the end of this year, the real estate market may once again return to the fast trend like 3 years ago.
According to Pradeep Agarwal, Chairman, Global Signature Group, buyers have definitely started returning to the real estate market, but due to high housing loan rates, the market is yet to pick up as expected. However, experts had indicated a few days ago that given the success in controlling inflation, the phase of reduction in interest rates can be started once again. According to Pradeep Aggarwal, if interest rates are cut according to these estimates, then housing loans will also be cheaper, due to which buyers will be more excited for new investments in the real estate sector.
Rajat Goyal, Joint Managing Director of MRG World, says that the businessmen of the real estate sector had to face huge losses due to the Corona infection. Before the Corona transition, the businessmen had fully invested the working capital available in their hands in their different projects, but due to the withdrawal of the buyers as soon as the Corona started, their capital was stuck in half-built projects. But now the way buyers are searching for properties in the real estate sector and making new bookings, there is hope that the days of this sector are starting to recover.
Experts say that due to the increase in the number of customers, the enthusiasm of the businessmen of the real estate sector has also increased, due to which many new projects are expected to start in the coming days.
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