Lodha Group, India’s largest real estate developer, clocked over INR 617 crore of sales in the month of August 2020. A forerunner in fulfilling homebuyer’s requirement and catering to the changing consumer sentiments, the group has been leading with a continued business upscale. For the month of July 2020 as well, Lodha did business of INR 550 crores of sales.
Being a top realty player, Lodha had observed a significant change in consumer preferences. There is a significant behavioural shift towards owning a home vis-à-vis renting. With an increased importance of larger, open spaces post Covid-19 outbreak, homebuyers are looking for bigger homes with a larger usable carpet area. Eventually, private gardens, balconies/decks, green spaces in the vicinity are seeing a demand as a means to unwind, facilitating physical & mental well-being – all within safety and comfort of one’s home. The current homebuyers’ checklist also includes standalone developments with limited number of residents, open spaces, ease accessibility and availability of amenities. Integrated living developments and gated communities are an added priority as well.
Homebuyers today have further become watchful and are seeking to transact with reputed, grade A developers who assure quality and delivery. Moreover, the lowest ever home loan interest rate combined with the recently reduced stamp duty makes this an ideal time for potential homebuyers to purchase their dream homes and invest in real estate. The upsurge in group’s business is a testament to the fact that home is considered as the safest haven, both emotionally as well as financially; and housing industry will continue playing a pivotal role in nation building and revival of economy.
