Emerging from the year of revival 2021, the watchers of the industry expect a stimulating budget to empower this optimistic real estate of 2022 as the international fall followed by the pandemic reincarnated the perspective of homebuyers towards a sense of comfort, safety and endurance achieved from the possession of an encompassing abode. In the year of restoring pre Covid normalcy, the industry elites, along with young millennial property investors, expect government companionship to cater for the reinstating swing of the real estate industry for comprehensive wealth creation in the next phase of fund allotment and plug the gaps in demand and supply.

Highlights from the Union Budget of 2021

Amidst the ramification of the crumbling economic climate in our country, a fair range of real estate expectations remained discontented with declined housing sales in major metro markets compared to 2020. With an extended decline in a consecutive year, the sales are yet to match the pre-Covid timeline. Nevertheless, the Union Budget of 2021-2022 addressed the Atma Nirbhar Bharat philosophy revolving around the idea of fueling the startup ecosystem to ramp up a holistic self-sustainable economic atmosphere in the country.

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“We shape our buildings; thereafter they shape us,” mused Winston Churchill in 1943 while considering the repair of the bomb-ravaged House of Commons. This is very much true, and countless pieces of evidence were observed in history to back this claim.

If you see today’s residential market and all the innovative projects that are coming up, you will agree with this statement too. Marvelous projects like our Hiranandani Gardens in Powai, Hiranandani Estate and One Hiranandani Park in Thane, offer abodes and spaces that craft unique lifestyles for all its residents.

Community Living Above All

The right architecture planning starts right from the site selection stage. Picking the right plot for a new residential project generally decides how popular the project would be. When the plot for our first project, Hiranandani Gardens, was picked in Powai, the entire patch of land was barren and quarried one. But we had the vision to convert that land into a township with lush green gardens, wide tree-lined avenues along with numerous facilities and amenities to make it a self-sufficient township that helps the entire community to thrive and grow. The vision which got successfully accomplished.

A Combination of International Standards and Indian Traditions

Imagine living in a home that’s inspired by international standards. The lifestyle of people living in projects that have intricate details inspired by the global architecture is much unique compared to that of people living in a typically designed residential project. From designing the interiors to getting elements that match international standards, everything changes in people’s lifestyles. That’s exactly what people living in our projects experience. All Hiranandani Projects are inspired by the neo-classical European architecture. The neo-classical architecture is adapted in Hiranandani buildings for vertical high rises that gives an unique identity to the buildings with a distinct look. The lobbies of buildings, common spaces and the amenities are all designed to give a premium living space to its residents and this in turn inspire the lifestyle and account for the aspirations of millions to have a Hiranandani home.

A Life Away From Repairs

The way a residential building is erected also dictates the number of repairs the residents will need in future. If a project is well planned and designed, residents have to undergo minimal repairs and also worry less about the structural integrity of their homes. A mind free from repair worries helps in leading an enjoyable and bigger life.

The last couple of years has been dicey in every aspect of real estate. The constant ups and downs seen in 2020 and 2021 changed the way various businesses involved in real estate function. It also introduced several newer ways of running various processes and real estate innovations.

Let us look at a quick recap of the last two years and then see what 2022 may have for the real estate industry in future.

The Highlights of Mumbai’s Real Estate in 2020

The year 2020 was meant to be a year of recovery for Mumbai’s real estate sector, especially the housing segment. After three years of business disruptions caused by demonetisation, implementation of GST and the realty law RERA, and the NBFC crisis, the market had started stabilising.

But all hopes were thwarted as the COVID-19 global pandemic hit India, forcing the government to impose a national lockdown for over two months to curb the spread of the deadly disease.

According to data available from the Department of Registration & Stamps, Diwali, 2020 saw the highest sales since November 2018.

Housing sales in Mumbai gathered momentum in Oct-Dec 2020. Over 6,000 units were sold in the quarter with Andheri-Dahisar and Goregaon-Malad belts grabbing the maximum popularity share. Ready homes priced within INR 80 lakh to INR 1 crore remained the most preferred. Besides, freshly launched projects offering premium amenities and discount offers also drew end-users.