Zindagi ki shuruat say le kar aantthak Real Estate hi Real Estate hai. Nothing can be done without Real Estate, surprised or shocked at such a bold statement? Start Thinking!
You are born either at Home(owned or rented) or a Hospital, then you go to School-College-University, then to work in an office or shop or factories or in today’s time work from home, whenever you go on a holiday, you stay in a hotel and eventually when you die you are either buried or cremated, even than real estate is required. Even the food you eat comes from the land, that too is agriculture-real estate. “Zamin kay bina kuch nahi hosakta”,“Udaan barnewala parinda bhi jis pedh par sota hai, who bhi zamin main dhasa hota hai”.
My father was a teacher by choice, having taught in two of the premier institutes of India, Birla Institute of Technology, Pillani and The Doon School, Dehra Dun because of which reading and writing are probably in the blood. I have been writing on real estate in the print media for many years. Real Estate has always been my passion and closing a transaction is always a kick.
During the past few months a lot many people are claiming that the real estate sector is not doing well, so to break that myth I decided to do a series of weekly advertorials specifically on real estate issues –Vidarbha specific. The decision makers at Times of India liked my idea and agreed to publish this series of weekly advertorial.
“Realty Watch” by Pankaj Roshan” is basically intended to act as a booster to the sector, to bring forward the shortcomings in the buildings being built and some remedies for the same, drawing attention to the concerned authorities on the problems faced by the sector. And lastly try to take inputs and views from the leaders of the Real Estate Industry, like Builders, Architects, Investors, Bankers, Government and Semi – Government officials, Senior Company officials of banking, retail and other sectors and share with the readers of TOI. This will be the first series of advertorials and the future ones will also include some interviews/chats with people who can make or influence decisions. The chats will be captioned “the difficult questions to the right person”.
Has COVID-19 actually affected the sector? If yes, to what extent? These are the kind of topics and many others I will be writing about every week.
The COVID-19 lockdown time was a time, when there was less to do and more to think. COVID was a great opportunity, the biggest lesson COVID-19 gave me was that “direction is more important than speed”.
COVID 19 was or is something which just created bad sentiments, lots of people lost jobs, many business lost a lot of money and were and are still not sure when they will pick up. The worst suffers have been businesses associated with luxury, both goods and services. Hospitality – tourism and linked businesses, like Airlines and Cruise liners have suffered the most, overall people have become skeptical about spending, and they may be right in their thought process.COVID-19 has not affected my brokerage business personally.
The present Central and Maharashtra Government is trying to understand the problems of the construction – real estate industry, but do they understand enough? There is too much confusion in the minds of people with respect to investing or buying real estate even for personal use. Floor Space Index has become the priority for most builders and architects instead of making good and practical buildings. I would be focusing on this subject too in future.
Real Estate purchasing by most people was put on the back burner during COVID-19.In a bid to revive the real estate economy, the Maharashtra government had cut the stamp duty payable on all sale transactions executed and registered between September 1, 2020 and December 31, 2020 by 3 per cent and by 2 per cent for transactions registered between January 1, 2021 and March 31, 2021.Between September 1 and November 25 witnessed a total of 7,22,348 transactions being registered across the state an additional2,03,065 or 39%more during the same period last year according to Maharashtra Revenue Minister Balasaheb Thorat.
Indians just love discounts. By a mere 3% reduction in stamp duty a calculated figure of Rs. 100 Crores additional per day was invested between September 1 and November 25 this year, statistics show that the state netted a total of Rs. 5,113 crore through stamp and registration levies at a reduced stamp duty rate that indirectly means about Rs. 15,000 Crores got pumped in the Maharashtra economy because of this step taken by the Government, considering weak sentiments after COVID-19. If this step was not taken, maybe the transactions may have been a mere Rs. 5000 Crores only, an estimated addition of Rs. 10,000 Crores, Rs. 100 Crores per day. Economy becomes better whenever more money is pumped into it and it starts reflecting everywhere. Most of all the sentiments start improving. The Central Government would also have benefitted by way of capital gains.
The Vaccine has helped in boosting the moral of the general public at large, the fear factor is reducing and will help all sectors to grow at a fast pace, especially real estate.
No dearth of Investors or buyers for good properties. People are willing to pay extra for good construction, better amenities and location. We at Roshan Real Estate wish to bring to the knowledge of a common man, how to invest and make money in Real Estate or what parameters to follow before buying a property, which would appreciate over time. It has been a known fact Real Estate portfolio has made people millionaires and we can guide you in that.
Let me conclude this article by saying, people who have the money and appetites for risk taking are buying at this very moment. I have always been bullish on this sector and will always remain so. My simple logic is God stopped making land a long time ago and no one else can make it, we will have to live with whatever is already created by the Almighty, so land will always be in limited supply. Invest with the best, Invest with Pankaj Roshan.
This article was published in Times of India on January 28 2021
The author with 32 years’ experience, is a leading Real estate Broker/Consultant, and can be reached on pankajroshan@roshanrealestate.in
