New Delhi June 03, 2020:-Realty WEBSERIES which is being organised by ICCPL, in association with Realty & More, moved to practical aspects being faced by the real estate sector in its 5th edition (webinar). Real estate experts talked about rental situations, online marketing, investment situations, etc in the present scenario. The panel included Kapil Kapur, director strategy, sales & BD, Bullman Realty; Ajay Rakheja, National Head Commercial Real Estate, 360 Realtors; Amit Raheja, CMD, Wealth Clinic; Abhi Batra, director, Buniyad Group; Khairul nissa shah, ED, WTC; Supriya Chaterjee, senior director – leasing services, Cushman & Wakefield; Amrendra Shukla, National Head Sales, OLX India; and Salil Kumar, director, Assotech Realty.
Maintaining that the virtual tours and lucrative schemes have helped get good sales even during lockdown, Kapil Kapur, director strategy, sales & BD, Bullman Realty, said, "Use of digital has helped a lot as clients get to spend a lot of time at home and thus searched online
Attaching the increase in sales and enquiry to lockdown, Ajay Rakheja, National Head Commercial Real Estate, 360 Realtors, said that "There were emotions as people were locked up in small spaces and no balconies. This made people realize the importance of having their own home or have a bigger homes.
Amit Raheja, CMD, Wealth Clinic, was of the view that the plan like 10:90 schemes worked in favor of real estate. The people came out and we received good response. They want second income and are responding to real estate. These schemes are building confidence in people. When offer is there buyers come out as they don't buy when prices are flat but wait for the movements, which was provided by lucrative schemes during the lockdown.
Amrendra Shukla, National Head Sales, OLX India, said that people were struggling in spaces and during lockdown started looking for bigger homes. These are the people who are looking for second home and contribute to 69 per cent of enquiries. The rest of 21 per event are people who wanted to buy in Jan-Feb-March, now they are coming out and looking for less properties worth less than Rs 50 lakh.
Abhi Batra, director, Buniyad Group, added that selling was not as tough as we thought it would be. There are some basic necessities and real estate is one of these needs. We have enquiries from people who want to move to new property and looking for bigger size unit.
Khair Ull Nissa Shah, ED, WTC, said that at WTC we have signed 22 new leases and that too at higher rental. Having said that there are various models regarding rentals being seen in the market. A lot of restructuring is happening in retail where tenants are asking for combination of revenue share, asking for reduction, etc. 90 per cent of retail is coming for restructuring of rents.
Supriya Chatterjee, senior director –leasing services, Cushman & Wakefield, added that we are witnessing that new clients are asking for deferment of rent commencement and corporates asking if escalations can be waived off in cases where lease renewal is due soon. My submission to developers is that they have to take it as per case to case scenarios and they should definitely have compassion for some industries that are affected badly.
Salil Kumar, director, Assotech Realty, agreed and said that customers are pressing for rental waiver and in case of high rentals they are asking for decrease. Landlords are preferring not to lose the customer and thus there are discounts and deferment of rents for some time.
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