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With the world forced to stay inside their homes due a global pandemic caused by the outbreak of CoronaVirus in 2020, the real estate sector has seen significant dips and peaks in various aspects. While commercial rent still stays afloat, there has been a notable dip in the residential renting sector of the realty. So much has happened in the last one year, and with the second wave of Corona Virus making an appearance there are certain predictions already in place for the realty sector in 2021. 

Covid-19 has made work from home a necessary practise all over the world and therefore, renting and buying of property has shown remarkable change. Due to the spread of the virus, realty has taken a hit in terms of project bookings and deliverables which resulted in a price cut on the builders end. The project builders have agreed to book projects at a lower cost just to have the commitment of the clients in these difficult times. Due to slow production and slower construction, the delivery dates of such projects are getting delayed by a significant amount of time while owners want to move into their properties more quickly.  The government has also exempted the stamp duty in certain cities that has resulted in price dip in the real estate properties as well. There is a major change in Gurgaon and Delhi real estate properties.

Keeping all of this in mind, one of the most important questions that pops up in the mind is: should you buy or rent a property?
In an interview with ET Now, Raja Seetharaman from Propstack, a leading real estate industry in India, held a discussion on the topic and revealed that renting a property would be better advised than buying a residential property, however, he also pointed out that if one wants to invest in the realty sector, it would be wise to invest in commercial properties on a more economic basis.

The real estate sector has been on a roller coaster ride since the early 2020, and it seems like there is more to the ride yet. Covid-19 had a great impact on the realty sector as it had on our lives, and although we do not know what the future holds for the real estate sector, as of now, things are looking a little up. Going for Apartments / Flats or basically any residential property can be a little risky at the moment however, investing in commercial properties like office and retail spaces can be beneficial.

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