Real estate industry trends for the week by EKTA World

EKTA world

Kindly find below few industry trends of the real estate sector for your reference. We were hoping to understand if you would be interested in insights or an authored piece by Mr. Ashok Mohanani, Chairman of EKTA World and President-Elect of NAREDCO Maharahstra. We would be happy to share his perspective on any of the other stories you plan to work on in the coming days. Happy to get on a call and discuss the same.

Emerging structural change involving work from home will play an important role

Background: Due to lockdown the concept of ‘Work from Home’ has been largely adapted by companies which have resulted in changes of the business models. Twitter announced permanency of the work from home concept for their employees and with this the other companies are expected to follow the track. With this there seems to be a shift in demand for home office which largely looks towards changing the future of housing choices. It is anticipated that the demand will look at structural changes where developers have a key role to play in to accommodate it with supply.

Talk points:

·         What are developers thinking of in terms of making changes in houses they are building as to incorporate an home office? How can this be achieved?

·         Will it cost more or the same if an home office is included? What can be done to look at a cost effective option to incorporate a home office?

Affordable housing to bounce back soon with significant ease by the government on lockdown

Background: The measures taken by the government with the infusion of the 20 lakh stimulus package to make India aatmanirbhar saw various relief measures pertaining to affordable housing. Measures like incentivizing industrial associations and manufacturing units to build affordable rental housing complexes on their land, converting govt housing complexes into affordable rental housing under PPP mode through the concessionaire and lastly incentivize state governments on similar lines to develop affordable rental housing complexes will act as a major breakthrough for the affordable housing segment. As affordable housing is more resilient with the support of these measure it is expected to bounce back faster.

Talk points:

·         Status of affordable housing currently

·         How will this lead to completion of ‘Housing for All 2022 agenda

The ‘New Normal’ post COVID 19 for the construction sector

Background: The COVID-19 pandemic has had a sudden and significant impact on all aspects of people's lives with 2.6 billion across the world now living under some sort of lockdown quarantine. The level of uncertainty in the economy is currently at an all-time high with the trajectory of the recovery difficult to forecast. In the real estate sector, we can see that the pandemic has accelerated some trends already in evidence, whereas other trends may reverse. Real estate’s new development buzzwords are quickly morphing. Buyer, both domestic and international seem vastly more interested in things like privacy, virtual, distanced, and tech-savvy. Online sales and digitalization is the shift observed and accepted as the new normal.

Talk points:

·         List of the new normal in Indian real estate post lockdown

·         Buyers sentiments towards the approach

The spokespersons of EKTA World are:

Mr. Ashok Mohanani, Chairman, EKTA World, Vice President, NAREDCO West

Mr. Vivek Mohanani, MD & CEO at Ekta World.

About EKTA world: A real estate developers in mumbai was established in 1987. Contemporary in thinking and design, EKTA has grown brick by brick while making many happy homes along the way. The team at EKTA world is constantly working towards creating memorable real estate projects complete with 2BHK, 3BHK and 4BHK flats in Mumbai and other cities in Maharashtra. Adding a zing of glamour and style to the city’s skyline, this group of real estate developers in Mumbai has not just built iconic structures but has also looked after the comfort and needs of its residents. This has gone a long way in building a strong reputation and goodwill amongst the discerning buyers and real estate companies in Mumbai and other cities in India.