The Indian real estate industry has seen some big changes in the way people buy and sell homes. However, the Novel Coronavirus outbreak led to a slowdown in the demand for real estate properties in 2020. The Government of India helping the Real Estate Sector Recover from the Post-COVID Impact because the crisis made it hard for many people to spend money, and there was a shortage of workers at construction sites. Overall, the real estate sector was impacted a lot.
- Navkar City is a safe investment: In these times of crisis, people are looking for safe investments that will give them a good return in the future. Navkar City offers just that – it is a secure investment that will help you make money in the long run.
- You can buy or sell your property any time you want: The real estate market can be unpredictable, and it’s not always easy to find a buyer or seller when you need to. At Navkar City, though, you can buy or sell your property at any time you want – there are no restrictions whatsoever.
The Real Estate (Regulation and Development) Act, 2016: A Year Later
The Real Estate (Regulation and Development) Act, 2016 was passed by the Indian government in an effort to revive the real estate sector. The act regulates the real estate market and aims to protect buyers’ interests. It has been a little more than a year since the act came into effect, so how is it faring? Here’s a look.
Rs. 1.7 Lakh Crore Announced in the March 2020 Budget to Help Industry Leaders Recover from a Crisis
The industry leaders asked the government to relax the regulations so that the industry could recover from a crisis. The Government of India helping the Real Estate Sector Recover from the Post-COVID Impact by announcing a package of Rs. 1.7 Lakh Crore in the March 2020 budget. This package includes money for MSMEs, NBFCs, Employee Provident Funds, and Real Estate Companies. Alongside this, the RBI announced measures to help with liquidity and financing costs.
- The government has come up with a package of Rs. 1.7 Lakh Crore to help the industry recover from a crisis
- This package includes money for MSMEs, NBFCs, Employee Provident Funds, and Real Estate Companies
- The RBI has announced measures to help with liquidity and financing costs
The Government Postpones the Deadline for Real Estate Investment Trusts, but They Never Happen
The Government of India helping the Real Estate Sector Recover from the Post-COVID Impact by postponing the deadline to finish construction and recruitment by half a year. People in the industry were excited about Real Estate Investment Trusts (REITs). REITs would have made it easier for the real estate sector to get money. But, unfortunately, REITs never happened.
- Postponement of the construction deadline and recruitment by half a year.
- Real Estate Investment Trusts (REITs) would have made it easier for the real estate sector to get money, but they never happened.
Here are some of the current real estate trends in India as announced in March 2020:
- The Government of India recognized the Coronavirus as something that was not planned for. This meant that developers who had construction projects stopped because there weren’t enough workers could have an extension for registering their projects.
- The Reserve Bank of India allowed banks and other financial organizations to stop people from having to pay back their loans for 3 months. This was in order to help people who were in a lot of debt and also the real estate sector, which was having a lot of trouble.
- RBI also said that people who have started construction on a real estate project, but have not been able to finish it for some unforeseen reason, will get more time to complete the project.
COVID-19 and the Real Estate Industry in India: How Developers and the Government Will Work Together to Recover
The Government helped the real estate industry in India before. They did this by making laws like RERA and Amendment to Benami Transactions and Real Estate Investment Trust. These laws made it easier for the industry to grow. Now, as the country fights against COVID-19, developers and the government will have to work together to make sure the industry recovers after the pandemic is over.
- The government has a history of supporting the real estate industry and will continue to do so in the fight against COVID-19.
- RERA and other recent laws have made it easier for the real estate industry to grow, and developers now need to work together with the government to ensure a smooth recovery after the pandemic is over.
- COVID-19 creates opportunities for redevelopment that were not possible before, and developers should seize these opportunities to create better-living spaces for people.
- Navkar City is committed to working with both the government and developers to make sure that the real estate industry in India recovers quickly from COVID-19
Navkar City: Sustainable Urbanization and Responsible Cooperation
Navkar City which is the top residential township in Jodhpur follows the principles of sustainable urbanization and responsible cooperation. In accordance with the initiatives introduced by the Indian government, Navkar City will continue its efforts to provide premium homes in Jodhpur.
- Navkar City is a sustainable developer
- Navkar City follows responsible co-operation
- Navkar City will provide exclusive homes in Jodhpur.
- Government initiatives are followed for the benefit of all
The Novel Coronavirus outbreak has had a significant impact on the real estate industry in India. The government has announced a package of Rs. 1.7 Lakh Crore to help developers and the industry recover from this crisis. Navkar City is a secure investment that will help you make money in the long run, as the government has a history of supporting the real estate industry. Developers and the government will have to work together to ensure a smooth recovery after COVID-19 is over.