Below is Perspective on Knight Frank's Mumbai Residential Snapshot July 2021 By Mr. Rohit Poddar, managing Director, Poddar Housing and Development Ltd.
“The second wave shook the country abruptly, bringing the entire real estate segment to halt. However, developers and home buyers seem to have familiarized themselves with the surroundings, taking lessons from the past quarters; circling how homeownership is the primary need for everyone, especially during the pandemic. With the reduction in stamp duty and easing of the intermittent lockdowns, the developers and homebuyers left no time to utilize the opportunity. This surely is a spark of hope for the real estate segment to resuscitate with the reviving economy. The Property registrations can now be predicted to keep up thriving in the coming months as the demand for new residential sales is matchless. The number of woman home buyers is also expected to grow as government schemes like Pradhan Mantri Awas Yojana(PMAY) and developer’s initiatives are anticipated to come in action with full capacity to fulfil the housing for all mission by 2022.”
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