The outbreak of the pandemic has really turned the world economy down to a great extent. The most serious shatter it has done to the Real Estate Industry. Then flourishing industry had to face a lot due to this outbreak and trying its level best to stay stagnant. With development work at a total stop, ventures getting conceded, the previously feeble real estate has been severely affected by the COVID-19 pandemic. The industry presently is being helped by the government so that it could rise and shine again.
Some innovations envisioned would impact the future and have happened without any forethought. For example, from when a physical property visit was essential to lease or purchase a property where new companies are seeing various clients settling properties for lease, by means of video stroll through. This practice is one in foreign countries but this is the first time India is going to experience this Revolution. Many companies in India have launched their virtual tours so that they do not lag behind in the competition.
This virtual tour is turning out to be great as the investors who are willing to invest their capital are not facing any barrier. The extremely realistic feel is experienced via this 3D walkthrough. To investors, it is a convenient and a time saving opportunity. Maintaining the social distance, the deals are being done. The Indian Government is also contributing for the appraisal of the Real Estate Industry. The Government of India propelled two online land stages CREDAI Awaas App and NAREDCO’s online portals housingforall.com, to advertise private properties carefully.
The CREDAI Awaas App is a computerized portal and India’s biggest online platform for project revelation for many investors around the globe. The stage additionally plans to assemble an association for clients with guaranteed developers of real estate whose RERA-registered properties will be shown on the application.
NAREDCO’s online portal housingforall.com, is an e-commerce lodging gateway where homebuyers over the world can investigate and buy ready to acquire Properties in India. The application plans to encourage straightforward home purchasing in India of RERA enrolled extends and get responsibility and effectiveness in the process of home-purchasing.