Real estate demand in Ludhiana was gaining momentum in the first quarter of 2020 until the Covid – 19 pandemic struck in India and lockdown with social distancing advisories came into effect, which reduced site visits and hampered the construction work as well. Due to lockdown, home buyers postponed their decisions until there was more clarity on the pandemic situation and the overall market trend. But in this post we will share some reasons why this is the best time to buy Luxury Villas in Ludhiana before prices rise further:
Since, the situation is under control now, and the market is expected to regain its previous momentum. It is unlikely to affect the Ludhiana real estate price trends, which will continue to grow and being the best residential area in Ludhiana and counted as one of the posh areas to live in Ludhiana, we have the added advantage at Sunview Enclave.
Homelife Buildcon Co. Pvt. Ltd. is committed to stand tall with its residents and prospective buyers of the luxury house as we are emerging from these unmatched circumstances. We believe that this is the right time to invest in real estate and live in our luxurious residential colony. Here are some reasons why this is the best time to buy home in Ludhiana before prices rise further:
Ludhiana has been comparatively less affected by the nation-wide slowdown over the past few years. The city’s residential real estate market garnered higher demand, as compared to other cities of Punjab. Ludhiana real estate has room for price appreciation especially Sunview Enclave as we are developing Phase – 2 of our project and the development is in full swings without compromising on any quality.
Increasing Prices of Raw Materials
Construction costs will increase; in fact is increasing as associated sectors such as cement and steel rely on importing raw materials which have restrictions currently. This will cause the supply chain to break and supply of building materials to decrease and accordingly the price will increase.
Increasing Cost of Workers
More financial support will be required to ensure the health and welfare of workers. Construction costs will increase due to the additional labour maintenance, as well as the low availability of workers after the lockdown.
Decreasing Rupee Value
The decreasing value of the Rupee versus the Dollar results in increased prices for raw materials which increases construction costs. Similarly the depreciating value of rupee is benefitting NRI’s significantly as Ludhiana have a great number of NRI’S and they will get more space for the same amount in their foreign currency i.e. US Dollar or Pounds. This is the right time for NRI’s to buy best Luxury villas.
The economic relief measures announced by the Government are positive for the real estate in Ludhiana. As real estate is known as a safe investment and is a fact; being reputed developers we suggest the people at large to invest and buy a home at your preferred location. These are the top points why this is the best time to buy Luxury Villas in Ludhiana.