End-users’ Demand Will Primarily Drive Real Estate In 2021: Ashish R. Puravankara, MD-Puravankara Ltd

Author: Mr. Ashish R. Puravankara, M.D., Puravankara Limited

The world has braved several crises in the past. However, 2020 shall be the benchmark for many years to come. While the pandemic came with its challenges, it also catalyzed the adoption of technology across industries. It is this intervention that became paramount for business continuity.

The real estate sector too revamped several functions that have now gone online. Even though the sector has implemented technology in its construction practices and for project management, disruptive innovation was seen most in creating “touchless experiences” for customers and adding the element of convenience to their lives.

Agility to adapt became the crucial element for the business continuity plan. 

Mr. Ashish R. Puravankara, M.D., Puravankara Limited

In April, we introduced our exclusive booking engine ‘BookMyHomeNow’ for our premium affordable brand Provident Housing Limited. The engine is optimized to allow all buyers to inspect, evaluate individual units and book our properties and projects without having to visit any physically.

In June, we became the first developers in India to virtually launch our projects online. We have accelerated our digital penetrations across all verticals, but mainly with customer interactions, ensuring a safe environment for all.

In the coming quarters, the rollout of the vaccine will aid the recovery of the economy and further improve the consumer sentiment. There will be new launches, but more spaced out, and the end-user demand will primarily drive the market.

Homes were where we all sought refuge in 2020, and now finally housing is getting its due. Housing has validated its position in – Roti, Kapda Aur Makaan- the holy trilogy of basic human needs. It has transformed from being an investment or an asset to a basic requirement.

Further, the year to come will yield several lucrative investment opportunities as the impetus will be on connectivity and smart infrastructure.

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