Get All Access for $5/mo

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

By Prabhjeet Bhatla

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Unsplash

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

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.

Prabhjeet Bhatla

Former Staff

Business News

These Companies Offer the Best Work-Life Balance, According to Employees

The ranking is based on Glassdoor ratings and reviews.

Business News

Apple Is Adding ChatGPT to iPhones This Week. Here's How It Works.

ChatGPT will take over questions that Siri can't answer.

Science & Technology

Use This Framework to Successfully Integrate AI Into Your Business Operations

Here's how to ensure both innovation and compliance when using AI in your organization.

Growing a Business

5 Effective Strategies to Boost Your Business's Online Presence

Boosting your online presence in 2025 is the key to success for businesses looking to grow. Working on your branding and reputation management is important to drive more sales and improve conversion.

Growing a Business

How to Spot Trends and Anticipate Market Shifts Before Your Competition

Discover how to identify disruptive trends before your competitors by mastering the art of anticipating market shifts. Learn strategies for staying ahead and gaining a competitive edge in business.