MUMBAI, 5th MAY, 2020 (GPN):  The spokespersons of EKTA World Mr. Ashok Mohanani, Chairman, EKTA World, Vice President, NAREDCO West and Mr. Vivek Mohanani, MD & CEO, Ekta World presented latest Real estate industry trends as follows:

Talk points:

• Focus areas for developer’s basis the changing consumer patterns
• Various aspects of green buildings and homes that help in overall wellness and health preservation of inhabitants

Wellness and green buildings to witness increased takers in the coming times

Background: The current pandemic’s impact is not limited to the lockdown. It has resulted in a major attitudinal shift in consumer behaviour and buying patterns. With no cure or prevention yet for COVID19, there is increased emphasis on wellness, well-being and health. Every purchase and buying decision will now see a changing trend. Homebuyers will seek green buildings as they are healthier to live in. For example, paints have lower emissions of toxins, natural sunlight and ventilation are optimum among other benefits. Sustainability is another aspect that consumers will seek. Lesser impact on environment will be an added benefit of choosing green buildings. Even Interiors that help keep the air quality of the place in check and provide people with a healthy, safe, convenient and comfortable indoor living space design will be in demand.

Talk points:

• How has the sector used technology to overcome the challenges faced due to the pandemic?
• Growth of technology in the sector

Sector will witness a large shift towards technology

Background: Smart homes are the future, but now with the advent of the pandemic it has forced the industry as a whole to take technology seriously. Developers are now venturing into their apps and are providing services like digital walkthroughs to ensure sales. Also with the government entering the e-space with the NAREDCO App we’ll soon be in a space where even paper work would be done online.

Talk points:

• What is the impact of it on the sales?
• Will the demand rise post the action is taken?

Reducing ready reckoner rates and slashing stamp duty can revive demand in the sector

Background: Devendra Fadnavis, former chief minister of Maharashtra, suggested that the government should bring down the ready reckoner rate by as much as 40% for the next two years in the state, in order to give a boost to the real estate sector. Reducing ready reckoner rates and slashing stamp duty can revive demand in the sector. These rates are an indicator of the likely prices of properties in various areas. A property has to be registered either on the actual transaction value or the minimum rate set by the government, whichever is higher. ENDS

About EKTA world: A real estate developers in mumbai was established in 1987. Contemporary in thinking and design, EKTA has grown brick by brick while making many happy homes along the way. The team at EKTA world is constantly working towards creating memorable real estate projects complete with 2BHK, 3BHK and 4BHK flats in Mumbai and other cities in Maharashtra. Adding a zing of glamour and style to the city’s skyline, this group of real estate developers in Mumbai has not just built iconic structures but has also looked after the comfort and needs of its residents. This has gone a long way in building a strong reputation and goodwill amongst the discerning buyers and real estate companies in Mumbai and other cities in India.