Anarock Property Consultants Chairman Anuj Puri, in an exclusive conversation with International Business Times, India, during the latest episode of BizTalk, shared some valuable inputs on the current trends and situation of the real estate market. Responding to one of the questions about investing in a property or buying a home during the COVID-19 pandemic, Puri had some helpful insights for potential buyers and investors.
Puri, who has over two decades of experience in the real estate sector, has seen the industry transform through various stages, including the worst-hit it took due to the COVID-19 pandemic. He says as the lockdown is starting to open up, there is a positive trend in the real estate – not as before – but better than what he had anticipated.
Buying or investing in residential property
On to the more relatable topic, where many potential home buyers and real estate investors are perplexed over whether or not to make any purchases during the COVID-19 pandemic, Puri has shared his valuable insights to guide them.
If you are a residential investor who’s looking to buy a plot for long-term returns, Puri advises to put a pin on those plans. “I don’t think it’s an investor’s market,” he says, adding that it is better to look for other areas for investments.
However, if you’re an end-user who wants to buy a home for self-occupancy, Puri says there are great deals. “Today is a time that you will be able to get in and you will be able to buy you choice, I won’t say your price, but certainly there will be a deal to be done with the developers,” Puri explained.
As trend dictates, NRIs often invest in properties in India for guaranteed returns and security of their investment. Since coronavirus has impacted the real-estate sector, there’s a lot of influx. Speaking on NRI investments, Puri said the there’s immense demand from NRIs. There could be various reasons such as INR devalue, NRIs returning home, good deals, low-interest rates etc., but Puri cannot put a finger on one. But the demand from Gulf markets has gone disproportionately higher.