Lodha clocks over Rs 550 crore sale in July 2020
Lodha Group clocks over Rs 550 crore sales in the month of July 2020. With unlock in city the grim situation in real estate sector seems to be changing.
By Varun Singh
Lodha Group announced that it has clocked over Rs 550 crore worth sales in the month of July.
A statement issued by Lodha Group on Friday said, “According to Liases Foras – Real Estate data & analytic firm, the company has been ranking No. 1 for the last seven years, and has achieved sales of Rs 50,000 crores during this period.”
Lodha claimed, that the group has witnessed a positive shift in consumer behavior towards owning a home vis-à-vis renting. They say this is because consumers have realized the security benefits of homeownership.
The group saw a demand for mid income – affordable housing and return in demand for premium housing with preferences towards ready to move in homes.
A recent consumer survey conducted internally by Lodha showed that 59% of millennials are keen to own a home instead of renting and have started considering real estate as a safe means for building assets.
Earlier this month Godrej Properties ltd, via digital sales delivered to highest ever market share in a quarter.
Godrej had stated that its total booking value for Q1 FY21 increased by 71% to Rs 1.531 crore.
The home loan interest rates are at a low. Plus with the pandemic, the home buyers are opting for spacious homes, that allows them even Work from home.
The RBI on Thursday announced a slew of measures, which includes one-time restructuring of loans too.
RBI has allocated Rs 5,000 crore each to National Housing Bank and NABARD. Via NHB, the RBI provided a shield to the housing sector from liquidity disruptions.