Real Estate Registers Recovery Amid COVID-19 As Lodha Group Records Over INR 1,000 Cr Sales

The Group observed a 40 per cent growth driven across categories in October 2020

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Real estate developer Lodha Group announced on Monday it has witnessed a sale of over INR 1,000 crore in October 2020.

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Recent times have re-established the importance of owning a home and moreover, ready homes have seen a notable demand amongst consumers looking for end-use and ready-to-move-in homes have seen an upsurge in this new normal because homebuyers get to see what they buy.

“The changing times have brought in a major shift in consumer preference as homebuyers are now looking for development with integrated living, best amenities and open space to enjoy an upgraded lifestyle. Post the pandemic, we have also seen that customers who were looking for a 1-BHK (bedroom, hall, and kitchen) or 2-BHK have moved up for a 1 and a half or 2 and a half BHK configuration respectively,” stated Lodha Group chief sales officer Prashant Bindal, while commenting on the performance.

“There is a need for that extra space for the multi-functional purpose. Buyers are ready to transact with developers providing an eco-system, quality living along timely delivery. Our current sales performance is a clear testimony of the customer-centricity of the brand,” he added.

In the post-COVID era, every individual has understood the importance of owning a home; and in the long term, real estate is going to be a great tangible investment option.

A recent survey by the group reveals that 86.8 per cent of the respondents would prefer living in independent villas and plotted developments that allow individuals to unwind, aid physical and mental well-being, safety, and provide a low density living with easy accessibility and availability of essential amenities. There is also a rise in demand for residences with green open spaces, balconies, and private gardens where one can use them for recreational purposes.