The COVID-19 Pandemic has sent the globe into a lockdown, schools, colleges, offices shut, and economic activities suspended. We are staring at yet another global recession, and experts fear it to be worse than the 2008 recession. People in the USA lost a record of 3 Lakh jobs in a single day. But the numbers are even more alarming for India, within two weeks of lockdown, close to 11.9 crore Indians lost employment, pushing them to the doors of existential crisis.

Amidst a pandemic and struggling to achieve a square meal a day, purchasing property is irrelevant. As more and more citizens are being pushed to burn through their savings, the future remains largely uncertain.

India's top 7 cities (Bangalore, Pune, Mumbai, Chennai, Delhi-NCR) account for 455,351 units of unsold inventory, valued at Rs 3.70 Lakh Cr.

What does the future hold?

Property prices will undergo an inevitable price correction, as the economy falls and unsold inventory piles up, Realtors are left with no real choice expect huge discounts and decreased property rates.

Investor-Friendly Environment?

If you happen to be a serious investor looking for a new residential home or a commercial property, this is a golden opportunity for you to reap the benefits of reduced prices, and the power of negotiation lies in your hands.

Sources :

1. Referred From , Housing Sales Drop, Economic Times.

2. Cited from, The Print India, India Lost more jobs than USA.

3. Referred from, Property prices are headed for price correction.