Mumbai: It is the latest trend to have one's own home. But this scenario has undergone a complete overhaul in 2021. Experts like Shravan Gupta believe firmly that real estate will witness some major changes and these changes have started happening in a subtle but visible manner.

It has been projected that in the coming months, the sale of houses in urban cities like Mumbai and Delhi will be at par with pre-pandemic levels.

Some major Factors are responsible for this path-breaking change in the real estate arena are:

Home loans are back in demand.

Gone are the days when one needed to think twice before getting a home loan. The good news is that home loans are being offered at the same pre-pandemic levels now. According to Shravan Gupta, it is possible because of changes implemented by the Government. Today home loans are being offered at as low as 6-7%.

This has drawn first-time buyers. And made it possible for them to own their dream home. Some market experts believe that this trend is bound to continue till 2022.

Enhanced demand for houses.

Contrary to the belief held by market experts like Shravan Gupta. The housing demand has doubled by ¾ in these months. And he believes that this will grow much more in the next 4-5 months. This trend is visible in both urban as well as semi-urban areas. One reason for investing in a new home is that one doesn’t have to pay monthly rents.

With home loans being as low as 7 % many new buyers are flogging the market. This is an encouraging sign for builders and investors alike.

Vibrant options.

There are many options if one is looking to buy a new apartment. Most prominent builders like Shravan Gupta are making apartments for the middle class. Hence, it isn’t difficult to find the same quality apartment in mid-level cities like Kanpur and Indore. This also means that people are now willing to move to small cities. Shravan Gupta says that at the same cost one can have a more spacious apartment.

More income availability.

The youth have realized the value of owning their own homes. This became more evident in times of pandemics. In such a scenario, people have realized the value of their own homes where it becomes beneficial. Owning a home has become a more feasible choice due to low registration costs and cheap homes.

The trend of buying new homes has become more popular in mid-level cities now. Shravan Gupta feels that this is bound to change the thought process of people. It is indeed a time for the bounce in the real estate sector. In the long run, this will benefit in progressing the real estate.