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Corona Impact: Increase in home buyers due to work from home, sales up by 10% in Delhi-NCR

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People have shown interest in buying a house due to the second discount from the government, including home loans being cheap. The number of home buyers has increased in big cities.

Increase in the number of home buyers

Since the Corona epidemic, the culture of work from home has increased since last year. Most of the people in big cities were staying on rent in relation to employment, but due to going to jobs or working on half salary, many people have returned to their homes. At the same time, due to the cheap home loan, people showed more interest in buying a house. According to a property website report, the sale of houses in Delhi-NCR has increased by 10% in the January-March 2021 quarter.

Apart from this, the number of home buyers has increased in other big cities as well. Experts associated with the real estate sector say that demand for affordable homes has increased in the last few months. Since most people are doing work from home, they are thinking of filling their own EMI instead of paying rent.

Buyers increased due to reduced home loan

According to the report of 99acres.com, the sale of houses has increased due to low interest rates of home loans. In the January-March 2021 quarter, Delhi-NCR saw an increase of up to 10% in the sale of homes. The launch of the new project has reached the pre-COVID level. In the last three months, 16 new projects have been launched. Most of these projects are in the Affordable segment.

The effect of custom rebate was also shown

According to experts, behind the increase in the number of home buyers during the corona, there is also a lot of rebate given by the government. Many states had cut stamp duty. Apart from this, the rate of GST on economical houses up to 45 lakh rupees was also reduced from 8% to 1%. Due to this, buyers also showed more interest in buying their own house.

Also read: Heavy purchases of old vehicles in Corona era, sales increased 3 times over last year

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Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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