What 2021 holds for Real Estate, in one word, was about change.

It begins with the New Paradigm for the industry, which will reflect across buyer segments, product categories, locations and projects as also ‘New Normal’, the definition of which will be dynamic and will get modified in sync with transformed circumstances through the year.

2021 will be about Revival, through enhanced offtake amid positive buyer sentiment, driven by better than expected recovery by the Indian economy. Also about Positivity, as the vaccine gets rolled out and economic activity returns to near normalcy; this will positively impact sales and demand for real estate. It will include Continued Momentum of sales on sustainable demand for homes that meet requirements of the ‘new normal’ as also Growth for Commercial Real Estate, as a back to normalcy economy reflects not just green shoots towards end 2020, but also enhanced demand for commercial real estate in 2021 – not to forget Flexibility to adapt the product to not just the ‘new normal’ in a world where we co-exist with Covid-19, but also future requirements as may come up.

From an industry perspective 2021 holds for real estate includes an Upgraded Product – the features and amenities of real estate offerings will need to be constantly upgraded, evolving in sync with a changed and dynamic set of requirements by the end-user. The year for real estate will also be about Support from authorities, be it in form of stamp duty cuts or reduction in premiums payable while getting approvals for real estate projects (Maharashtra). Finally, it will be about Industry specific measures, like enhanced options for SWAMIH fund as also more options to implement one-time restructuring of loans to the industry. What 2011 holds for real estate is simple: it will be the year of change for Indian real estate.