The outbreak and swift spread of Coronavirus has hit a heavy blow on industries around the world. The economic status of our nation has also suffered a lot due to the pandemic and lockdown. One such sector that has witnessed a massive slump from the time India came face to face with the novel Coronavirus is the real estate sector.
Witnessing the downfall of the realty sectors, historic low in the home loan rates in 15 years, and the lowest increase in property prices in the last decade (2011-2020), the government and property developers are coming up with numerous offers to attract home buyers.
Observing the high fluctuations in the property prices, the state government has decided to reduce the circle rates till September 2021.
What is the circle rate?
The circle rates are the minimum value of the property below which the property sale cannot take place. In New Delhi, the Delhi government reviews and decides the circle rates every year to keep them aligned with the market rates.
What is the government doing to revive the real estate sector in COVID?
In the Union budget 2021-2022, the finance minister Nirmala Sitharaman announced a new norm that the home buyer will be allowed to buy homes 20% lower than the circle rates (on properties priced below Rs. 2 crores) and no additional tax would be levied on them.
Delhi chief minister Arvind Kejriwal decided to cut the circles rate by 20% flat across categories that include commercial, residential and industrial buildings. These reduced circle rates will remain in effect till September 30, 2021, in the entire national capital.
What are property developers doing to revive the real estate sector in COVID?
As a step to increase sales and reduce the loss, property developers in Delhi-NCR have introduced lucrative offers for home buyers. One such developer working with the motive to revive the real estate sector is Mapsko Group.
Mapsko Group is a leading real estate developer in Delhi-NCR that kept coming up with unique, irresistible offers in 2020 and is still coming up with limited time offers. One of the best offers introduced by the company was the Women’s Day exclusive offer for all women home buyers.
One of the best deals announced by the developers recently is on their luxurious high-rise project- Mapsko Mount Ville, developed at the foothill of Aravali Range. It’s a ready to move-in property with 3BHK, 3.5BHK & 4.5BHK resort-like home and world-class facilities starting at just Rs. 87 lakhs (limited period offer).
Some other projects in which the developer has offered incredible deals are Mapsko Casa Bella and Mapsko Royale Ville.
If you are a home-seeker and want to grab the best offers, you can connect with the property developers on their social media channels.