Residential Real Estate - Apartments in Kochi, Aiming for a Strong Comeback
The recent outbreak of the novel Coronavirus has equally struck every functional area in each industry. Ranging from production of day to day commodities, even to the manufacturing of automobiles, the struggle has become real. One sector that possibly been affected at the early stages of the lockdown in India is the residential real estate sector. The projects which were aligned to proliferate in this month and the previous month, all ran into serious jeopardy.
Now the fourth phase of the lockdown has started, experts of the real estate sector have confirmed that the residential construction will bounce back strongly in the future. In the recent turnout of events, the Central Government has introduced a wholesome package to reinstate the economy and the country as well. This will benefit the real estate sector also. Due to the events followed by the lockdown, most of the construction of apartments in Kochi has come to a halt. Some of the major players in the International arena has also mentioned the possibilities to come back from the fall, quickly.
Let’s just jump into the matter and see where the sector has struck badly and how well, the residential construction zone will bounce back to its initial stature:
- The major issue faced by the construction department in Kerala, quite like every other place, is the implementation of the nation-wide lockdown. With the lockdown stretching out from the third week of March, the realty sector has hit the brake button.
- The residential construction area of the realty business has come to an end for a while. This severely brought down the construction of flats in Kochi city too.
- Another factor that influenced the construction of apartments in Kochi is the availability of the Guest workers. Many have left the town to their respective states and homes.
- The availability of construction equipment and other related products become ruled out from the scene as well. Followed by this trend, many required materials were rooted at the state borders for a long time.
- The economy has a major influence too. Moreover, commutation and accessibility to the project sites and construction yards have truly made the situation worse.
Though this is how the status has gone from the time of lockdown to this day, the predictions and data show the Residential real estate sector in India is planning for a strong comeback. This leads to new opportunities for the builders in Kochi and favors the buyers of the flats in Kochi. The statistics show how the upcoming courses of action will support the builder and the buyer at the same time. Let’s have a look at some key takeaways:
- The major influencer for this comeback is the official schemes and plans for rebuilding the nation. Both Kerala and Central Governments have issued policies and schemes which favor every industry in India. In Kerala, when the economy comes back to its previous position, we can see a sharp revival in this field of business.
- Recent news reports suggest that the recovery will be favored by the affordability in flats and apartments, which will be in an all-time high.
- With the lowest repo rate, the main builders in Kochi would benefit from it. Also, this will help large real estate players to emerge furthermore. This is where a construction firm like Veegaland Homes cemented their position. Among the largest in the field of good-quality home builders in Kerala.
- This post-pandemic state will provide a new outlook to the buyers and builders as well. In a city like Kochi, where the pandemic hasn’t grappled its prey, it stands for a well-maintained system that is at work. Though Covid-19 has spread among a collective, the signs of community spread in the apartments in Kochi were very much zero. This became possible by following the guidelines from the government and health inspectors, which show why investing in a place like Kochi would be beneficial in the future.
- The focus on Digital Markets. Even before the rise of Covid-19 in Kerala, the construction division of the business has taken a major shift in marketing to a wider group of people, all around the globe. This trend has been going on strongly even during the lockdown time. With laptops and smartphones, it is easy to get to potential buyers. With the future far-fetched ahead for the builders in Kochi, they can unwaveringly rely on digital markets even more than ever.
It is important to notice the evolving trends that will come in hand to pick up the fallen pieces, once everything drives back to normal. This works definitely in the real estate area, especially in the residential construction section of the industry. The trends are visible now, as the government has already issued beneficial policies to the sector. The issue of lack of workers is also being resolved slowly as the lockdown priorities have come into action. Now the fourth phase of lockdown is up-to-the-date, a certain resolution like revisiting the halted infrastructure construction business is on, which makes half of the problem go away. Builders in Kochi have already shown the green light to restart the extant projects, which is a good sign for the future.
Veegaland Homes, one of the most reliable builders in Kochi, stands for molding a better world tomorrow. By considering kids into construction preferences, the builder creates healthy spaces in which they’ll engage with other kids and share ideas to play, study, create, and live. Veegaland Homes construct a range of premium apartments in Kochi, with the motto of Quality and Trust. Their two upcoming projects, Zinnia and Kings Fort have sample apartments ready for potential buyers to have a First-hand experience.
Veegaland's all ongoing projects are K RERA approved - KingsFort | K-RERA/PRJ/031/2020, Zinnia| K-RERA/PRJ/038/2020, Exotica | K-RERA/PRJ/039/2020, Thejus | K-RERA/PRJ/040/2020, Bliss | K-RERA/PRJ/115/2020