TAKE NOTHING FOR GRANTED
High fuel price and rising construction costs are major challenges confronting our sector. The disposable income of buyers is getting decreased and the construction cost is going higher, due to which we are forced to increase prices. It’s not a very good situation to be in and we hope that prices are back to normal as early as possible. Covid has increased the impetus on new asset classes such as hybrid and co-working spaces which are here for the long run. As regards absorption in office and commercial space, they are back in full swing. In the retail segment we are seeing a huge demand from retailers because they have done amazing retail sales numbers in the last six to twelve months. All the large retailers are on an expansion spree looking for good “A Grade” spaces. In Rajasthan we see a substantial opportunity for developers like us in commercial retail space because not only it lacks “A grade” developers, but “A Grade” spaces for retail and office use as well. COVID has taught me that nothing is forever. Take nothing for granted and enjoy each day and take pleasure in small joys of life and spend as much time as you can with your friends and family. On the professional front, unnecessary travel can be reduced. You can do a lot of work remotely and still manage things. I think we have seen good demand in the last 6 to 12 months and I foresee good times in the next 2 to 3 years, not only in residential but in commercial and retail as well.
Tags : A rising star real estate sector Uddhav Poddar opportunity develop world-class projects Tier 2 towns MANAGING DIRECTOR & GROUP CEO BHUMIKA REALTY PVT LTD India.