The COVID-19 pandemic has shifted homebuyers’ tastes to reflect the new normal. There is certainly a consumer preference toward well-organized developers with solid credentials and a proven track record.
According to Ashok Kapur, Chairman of Krisumi Corporation, with the value of a house getting universal recognition, residential sales are projected to be buoyant by the end of 2021, owing to low borrowing rates and proactive initiatives such as stamp duty reductions by various states.
How has COVID-19 impacted the real estate sector? Have you seen a sales increase?
The COVID-19 pandemic has highlighted the need of purchasing a house rather than live with the insecurity of leased housing. The residential housing market saw a slow start last year during the first wave of COVID but gathered up steam as the pandemic made people realize the actual worth of their houses.
Social distancing standards and other procedures that have become the “new normal” have resulted in a much-needed adjustment in the entire communication process. To close the sales loop, developers have gone the virtual way for contactwith homebuyers and stakeholders.
Homebuyers can watch the film and obtain a virtual reality view of the homes while making purchasing selections without physically inspecting them.
Has COVID-19 affected homebuyers‘ views or preferences?
The COVID-19 pandemic has shifted homebuyers’ tastes to reflect the new normal. It has also signalled a shift in consumer preferences toward well-organized developers with solid credentials and a proven track record. Work-from-home opportunities have emerged as the primary undercurrent affecting homebuyers’ preferences. Homebuyers nowadays choose houses with greater outside open space and gated communities with cutting-edge facilities that can allow ‘space’ for remote working.
The majority now prefers a fully-equipped workstation, a dedicated exercise room, a secluded space for weekend gatherings, and a play area for children, while also taking into account other essential aspects such as location, ticket size, intelligent design, cutting-edge technology, and so on.
What is the most recent status update of their flagship project? When do they intend to deliver it?
Krisumi Waterfall Residences, their flagship project, demonstrates the fusion of Japanese art and design with Indian beauty. Krisumi Waterfall Residences is part of the larger integrated development known as Krisumi City and is strategically positioned in Sector 36A along the Dwarka Expressway.
A lavish 2-level fully-equipped residents-only clubhouse, state-of-the-art gym, restaurant, bar lounge, spa and salon, mini-theatre, fine dining, alfresco dining with pool view, tennis court, squash, etc., is one of the Krisumi Waterfall Residences’ key USPs and is fully integrated with all residential towers.
What is the expectation for the remainder of the year now that the second wave of COVID-19 has passed?
The COVID-19 pandemic has also confirmed real estate as a stable and profitable asset rather than traditional investment classes. With the value of a house gaining widespread recognition, residential sales are projected to be buoyant by the end of 2021, owing to low borrowing rates and practical efforts such as stamp duty reductions by several states.
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