Indian real estate sector lights up with festive cheer as demand spikes
The Indian real estate sector has seen a spike in demand during the festive period, a recent report by Knight Frank, India informed.
According to the report, demand stimulation measures such as low rate of interest and festive schemes enabled the sector in posting strong sales during the Diwali period. In October 2021, Mumbai recorded 10-year best property sale registrations.
"In this post-pandemic phase, homeownership has gained top priority. Many prospective homebuyers are now looking for comfortable, spacious homes, especially in self-sustainable housing societies. It is a common perception that the needs of an entire family can be met in these societies and they offer a safe and secure environment. Such societies offer a wide range of facilities within their confines and thus reduce people's need to step out," said Aditya Kushwaha, the Director and CEO of Axis Ecorp.
He opined that as the concern for health and wellness has grown, the holiday homes and the luxury holiday home segment has seen the maximum traction this year and it continued to be the trend during the festive period as well.
