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Pandemic spurs demand for luxury villas, farmhouses
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Even as the second wave subsides, more enquiries have started pouring in, said property brokers and developers. That has meant the share of such farmhouse and luxury properties has gone up substantially in the top end of the property market, said Amit Goyal, CEO-India at Sotheby s International Realty.
Agencies
International buyers are also looking at buying such luxury properties and subsequently, professional management companies have been roped in to manage these luxury houses.
Bijwasan and Mehrauli – or Tungarli in Lonavala and the Dona Paula waterfront in Goa - are now much more than just weekend homes for the swish set in Delhi or Mumbai. In Covid-ravaged India, where space in townhouses is a luxury even for the rich, luxury villas and farmhouses – often at locations far from the madding crowd – are drawing affluent city buyers.
Buyers are now exploring the likes of Kasauli, Panchkula, Alibaug, Panjim, Lonavala, among others.
When it comes to how the realty sector has changed over the last one year, several trends come to mind: people are looking at buying larger homes, they are including home offices in the blueprint, and workcations are the new normal. Another trend gaining traction is that of people buying vacation homes.
While the concept of a second home is not new, these homes are now being bought in India’s smaller towns and for the purpose of staying and working from there for longer periods of time. But is it just the work-from-home (WFH) scenario that has prompted buyers? Amit Agarwal, Co-Founder and CEO, NoBroker, says that the return on investment is another motivation. “Property prices have reduced in the wake of the pandemic and home loan interests are at an all-time low. People who buy a home now can enjoy significant capital gains on their investment in the long run and rental income f
How IIT leads in encouraging research and innovation among SMBs and other top stories of the week
This week’s top picks include IIT-Delhi incubated healthcare brand Clensta and OkCredit, a free business accounting app founded by three IITians.
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SMBStory’s top picks include
Clensta, an IIT-Delhi incubated brand that helps soldiers, patients maintain personal hygiene with its waterless products, and
OkCredit, founded by three IIT graduates. It is a free business accounting app that has over
5.5 million MSMEs on its platform.
Harsh Pokharna, Gaurav Kumar, and Aditya Prasad, Co-founders of OkCredit
If the COVID-19 pandemic and the lockdown has taught Indian MSMEs anything, it is that digital, contactless payments are here to stay. This comes in wake of the need to record and account monetary transactions digitally.
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