Revival of Real Estate Demand This Festive Season

Runwal Group, one of India’s largest developers with consumers at the centre of their world class developments, has been keeping up with the current home buying trends. Mr. Rajat Rastogi, Executive Director, Runwal Group shares his views with Realty+ Home buyers are responding favourably to residential purchases across segments as government grants have made real estate investments lucrative. According to Rajat Rastogi, “Home sales volume across major regions in Mumbai has witnessed substantial growth in the past few quarters, signifying healthy recovery post the strict lockdown imposed due to the spread of COVID-19 in the country. Developers too are betting big on the festive season and have introduced various offers to attract customers.” Lowest Mortgage Rates in the last 15 years The slashing of home loan interest rates by several reputed banks have further extended the best buying opportunity for the homebuyers. Currently, the home loan rates are at an historic 15-year low. Homebuyers are likely to benefit from all-time-low interest rates of 6.5 to 6.9 per cent on home loans and it is anticipated that Interest rates to be this low for another 6 months to 1 year. Sharing his views Rajat Rastogi said, “This present time is the best opportunity for homebuyers to buy any property that they have been planning to purchase. The decreased interest rates are a big factor in influencing the first-time homebuyers as well as the fence-sitters.” Residential Segments Garnering Most Traction Mumbai’s residential segment during the last quarter of 2020 and 2021 witnessed a favourable traction for affordable and luxury properties. As per Runwal Group, most of the transactions happened up to Rs 1.5 crore indicating higher demand of affordable premium segment. Additionally, there has been a reset in the luxury residential market, and sales are better compared to even pre-covid levels, with buyers looking at bigger and upgraded living spaces. Technology Makes Home Buying Easier COVID-19 lockdown has accelerated technology-led home buying in India. Virtual site visits are also becoming a reality and a large chunk of the property selection and purchase process can now be done digitally. Keeping this in mind, Runwal Group has introduced online booking options for customers with flexible payment plans. Rajat Rastogi elaborated, “From digital advertising to online meetings and virtual project tours, we have been utilising every possible avenue to connect with customers, channel partners and vendors. We are already looking at integrated online sales tools to manage the sales flow and customer interactions. We shall further ramp up these channels for use in future as well.” Plans for the Festive Season The sector which has observed a strong revival in the last few quarters is now looking forward to the festive season to retain the sales momentum. Runwal Group has come up with a collection of lucrative offers for their projects like: No Stamp duty, No Floor rise, 20-80 developer subvention scheme, Flexi Payment plans & additional Festive Offers. These offers are project specific. Runwal Group – Creating Finest Lifestyle Residences in the MMR Region With swift technological advancements, new products in line with the consumer demand and ongoing construction during the pandemic, Runwal Group has been able to offer large scale developments with green open spaces, resort like amenities at prime locations. This has helped Runwal Group emerge as one of the top developers of the country. The Group offers the best lifestyle residences in the Mumbai Metropolitan Region and is a leading name backed by a strong track record of trust, transparency and delivery.

• Runwal Gardens, an integrated township strategically located in the heart of Dombivli is spread over 115 acres with a central park of approx. 11 acres, 1800 trees and 14+ gardens, mall, school, hospital within the campus. Residences at Runwal Gardens will have multiple configurations of 1,2 & 3 bed homes. Runwal Gardens offers over a hundred amenities along with a 67,000 elevated clubhouse which will be one of the largest in the region.
• Runwal Bliss at Kanjurmarg East is the largest luxury residential development in the neighbourhood. It offers exquisitely designed 1.5, 2 & 3 bed residences, state of art club and recreational amenities and large green open vistas on a central vehicle free podium. Adjacent to a 5 acre public garden and with panoramic views of Airoli mangroves & bay and Powai it offers all modern conveniences in the heart of the city, yet being close to nature. It is at an advanced stage of construction and will be ready next year.
• Runwal Avenue at Kanjurmarg East is proposed to have 6 high-rise residential towers comprising smart lifestyle residences offering 1,2 & 3 bed residences along with multiple lifestyle amenities, a large green podium and thoughtfully designed facilities such as a health clinic within the premises by a leading healthcare institution. Located close to the proposed Metro hub, the project will also have a Wi-Fi-enabled business centre space and ‘Fifth Avenue’ – an integrated high street retail galleria that will have branded stores, restaurants, cafes, salons, and much more.
• Runwal Pinnacle designed by Architect Hafeez Contractor, will not only feature residential towers which will be amongst the tallest in Mulund, but will also provide breath-taking views of Airoli Mangroves & Bay on one side and Sanjay Gandhi National Park on the other. Residents can pamper themselves with a wide range of club, sports, recreation and fitness amenities inside the building. The towers will offer 1, 2 & 3 bed residences. It is located strategically on GMLR, adjacent to Fortis Hospital and will provide easy connectivity to the western suburbs in future.
• Runwal Forests on LBS Road, Kanjurmarg is a 15-acre pure residential campus offering 1, 1.5, 2 & 3 bed residences. Designed to offer an urban forest theme, it has a 35,000 sq.ft. clubhouse, high-end recreational activities and even a floodlit cricket ground. A health clinic by a leading health care brand of the country will soon be operational here, exclusively for the residents. Phase 1 of the development is already handed over and it has become a vibrant community.

All the projects offer a perfect blend of location, amenities and green open spaces that are thoughtfully-planned for a luxurious lifestyle. Mumbai Real Estate on the Road to Recovery The government is continuously taking right measures and announcing favourable policies that are directing to fulfil the ambitious goal of providing housing for all by 2022. As Rajat Rastogi rightly mentions, with developers providing lucrative deals and offers such as Zero Stamp Duty, Zero Floor Rise, Zero Registration, Flexible Payment Plans, etc., the real estate sector will stir positive sentiments in the market which shall further spike the demand for projects and real estate recovery.