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    Demand for spacious units increasing in residential, commercial in demand by investors: Homekey

    Published on March 1, 2021

    New Delhi: Homekey, one of the top property consultants in NCR, has announced that it is witnessing a healthy sales turnover in NCR’s real estate market and recovering at a fast pace post pandemic. The property consultant has revealed that it has registered an encouraging growth of over 150% in sale of properties during the quarter Nov 20 – Jan 2021 as compared to its precedent quarter (Aug 2020 – Oct 2020).

    Homekey sold properties worth Rs 30 Cr between August 2020 and October 2020 by selling approx. 75,000 sqft residential and commercial area, which also includes more than 50 residential units. The figures went up in the period November 2020 to January 2021, when it registered sales worth Rs 75 Cr by selling approx. 1.5 Lakh sq ft residential and commercial area including over 100 residential units.

    “Post-pandemic, the demand is picking up pace. The revenue figures are a clear indication that people are now valuing real estate assets. It is a matter of few months now for the real estate sector to be back to the pre-COVID sales. One trend that we have witnessed is that the demand for 3 BHK is good, and it continues from the pre-pandemic period. The number of inquiries for spacious units has increased after the lockdown,” says Arfeen Ahmed, Director, Homekey.

    In post-pandemic period, the size of 3 BHK units in demand was between 1300 Sqft – 1400 sq ft during August-October 2020, and in the period Nov 2020-Jan2021, the demand for bigger homes increased and went up to 1400 sqft – 1600 sqft for 3 BHK units, which remained in demand. The sale of commercial also increased as people are investing more in this real estate asset due to the return on investment it promises. “Most of the buyers of residential units were end-users, and the commercial was dominated by the investors. In post-pandemic, the same trend is continuing,” adds Ahmed.