HERALD: How is India’s real estate market behaving during this pandemic?
UZMA IRFAN: Amid COVID-19 disruptions, there was for a short period a demand contraction which was primarily in the months of March and April. Thereafter the company quickly adapted its marketing strategies for remote selling and a strong emphasis of moving to better communities. The demand from the month of June has grown considerably and we are back to pre-COVID-19 levels.
HERALD: Is the Goa market different from the rest of the country? If so, how and why?
UI: Goa, no doubt, is a different market. There is demand from within based on its universal appeal to customers from all across India. In line with living a better quality of life, customers have been looking at investing at real estate properties for leisure as well and hence there is a lot of interest for us in our development.
HERALD: What are the reasons which made you venture into the Goa market?
UI: The Prestige Ocean Crest project fits well with our strategy of enhancing our presence across the country. The location of Dona Paula and scenic view from the project is very attractive which is why we wanted to create something nice in Goa to leave a lasting legacy in this market. We are excited to be making real estate investments in Goa, a market which we believe has attractive long-term growth potential driven by a high influx of tourists, an attractive cost of living and a high-quality of life.
HERALD: Do you think people are interested in buying new properties now? If yes, what could be the reason?
UI: Real estate has always been and will continue to be the finest long-term and stable investment asset. There has been a revival in demand through increasing footfalls and sales which clearly indicates that people are still interested in buying residential properties. We have also seen an increase in unique visitors on our website and have been witnessing an increase in queries for our projects. The housing segment has always had a great demand and post COVID-19 it will only be strengthened by low housing loan rates, good offers and benefits.
HERALD: What are special offers for your Goa Project?
UI: Prestige Group has partnered with Goa’s renowned developer Mathias Construction Pvt Ltd to jointly develop the project. The premium residential development project will consist of 106 apartments, 7 shops, and 1 sea-view restaurant. The amenities include landscaped garden, children’s play area, sea view restaurant on 4th & 5th floor, club house on seventh floor with entrance lobby, reception, table tennis room, indoor games room, billiards rooms, party hall with pantry and toilets, party deck, swimming pool with pool deck, gents and ladies toilet block, fully equipped gymnasium and Yoga deck. Through virtual site tours, video calls and innovative visualisation, Prestige Group empowers consumers to make informed property purchase decisions. The adoptionof VR ensures that customers do not feel cheated of the property buying experiencethat they are accustomed to. For those who are not so tech-savvy, Prestige Group has dedicated executives trained to handhold customers through the virtual process.
HERALD: Bankers help for financing prospective buyers is key. What help are the bankers providing to buyers?
UI: Today home loans rates are at 15 year low and it is possible to get a loan tenure upto 30 years. All of this makes it attractive home buyers to make a decision.
HERALD: Are you getting any response from customers?
UI: We have received amazing customer response to the virtual launch of our Prestige Ocean Crest project in Goa from both buyers in the state as well as NRIs which gives us the confidence that the project will be landmark project in Goa. Like I said earlier, we have not entered the Goa market to churn out big numbers; the whole idea is to give home aspirers with the glorious opportunity to get a taste of Prestige’s relentless dedication to quality offerings and signature craftsmanship.