Pune: A report by Real Estate Consultants JLL has estimated that ongoing monsoons can produce 20-35% uptick in housing sales.
The report said that good rain estimates have provided a number of spaces for monetary policy makers to keep interest rates unchanged.
This prediction is the departure of the usual business trend in the construction and housing industry during the months of the monsoon, as uncertainty and disruption in construction and supply chains suppressing housing sales.
This report adds that good monsoons can also provide fuel to other economic indicators, such as the sale of electronic goods and other white goods.
In his observations, JLL said the estimate of a good monsoon, which was realized in most countries, allowed Indian reserve banks to keep low interest rates, with inflation also mostly examined.
It adds that the bank keeps interest rates historically low on home loans – mostly below 7% – will continue to attract more buyers to the housing market.
However, the report also warned that the third possible wave of ongoing pandemics in India could disrupt this projection.
“The housing real estate sector can expect buoyancy in the sale of residential property in the rainy season and the future celebration season this year, the same as last year where there was a leap of 34% in the same period compared to the previous quarter.
Directly in sales can be 20 -35% this year depends on how the pan pandemic comes out.
If there is a third wave in the next few months, other economic disorders can affect sales growth negatively, which can then float around our expectations range, “said Samantak Das, Head of Research in JLL.
The report added that the future celebration season in some parts of India will be the main driver of the housing market, especially in Maharashtra, which has two most active housing markets in the country – Metropolitan region of Mumbai and Pune.
During the house hunting, JLL added, the buyer also saw the consideration of drainage and waterlogging, because of the case of heavy rainfall and flooding several times.
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