CREDAI Bengal launches EtaiBestTime campaign 

News Desk, News Nation 360: The lockdown due to Covid-19 has deeply impacted the economy around the world. The Indian economy too has been no exception with real estate bearing a substantial brunt. The pandemic and the resultant lock-down over the last three months led to an uncertainty in terms of job security and decreased consumption patterns, leading to a fall in economic growth. However, the good news is, we are gradually witnessing a sales recovery since the 'unlocking' of the country. After a tough three months, we are seeing sales recover in the residential segment. Even though we are yet to reach pre-COVID levels in real estate sales, we have been seeing indications of the market stabilizing and the urge to buy has not only revived but has bounced back with great momentum. Thus, the pundits and stakeholders are predicting this to be the best time to buy for several reasons. CREDAI Bengal, the advocacy group for real estate in West Bengal, launched a three-month-long digital campaign to portray real estate as a lucrative & secured investment option for the public at large. The campaign catchphrase ‘EtaiBestTime’, will be the underpinning of CREDAI Bengal’s unique attempt at influencing customer choices in the realm of investment. The pandemic situation has put the investor on tenterhooks owing to falling markets, but in that scenario, the ‘real estate’ vertical has been accepted as one of the most fruitful investment instruments. Suitable factors have also contributed to the present time is most favourable for investing in real estate. CREDAI Bengal’s campaign mascot ‘GK-da’ will reinforce the benefits of real estate purchase amongst possible buyers.   Informative Booklet launched on real estate and Virtual Press Conference was done in presence of Nandu Belani, President CREDAI Bengal & Chairman, Belani Group, Sushil Mohta, President,

CREDAI West Bengal & Chairman, Merlin Group, Harsh Vardhan Patodia, President-Elect, CREDAI National & Chairman, Unimark Group,  Harshavardhan Neotia, Advisory Committee Member, CREDAI Bengal & Chairman, Ambuja Neotia, Pawan Agarwal, Executive Committee Member, CREDAI Bengal & Director, NK Realtors, Sidharth Pansari, Executive Committee Member, CREDAI Bengal & Director, Primarc Projects. Another very important factor influencing buyer moods is that the pandemic has taught us the bitter way, how important owning one's own home is, especially when one's existence and lifestyle is firmly entrenched around one's house. The requirement of more spacious homes is of prime importance now as we need more space for movement and isolation. ‘Work-from-home’ and online-education has also necessitated the need for having more space at home. The pandemic has hence prioritised home-buying for a large pool of people.  Nandu Belani, President, CREDAI Bengal, told they saw a lot of enquiries coming in and buying should increase further with stability coming in as people do not see a major crisis with COVID 19 as was perceived in March. So now with buyers back in the market and sales increasing, aided by WBHIRA-induced transparency, confidence in customers about delivery too have spiked. Thus they can say with certainty that this is the 'Best Time to Buy' Real Estate ! with this thought in mind, they are launching their campaign titled 'EtaiBestTime' and their campaign mascot 'GK Da' will be the flagbearer of that message. Through this sustained campaign, they will inform customers about the reasons to bank on real estate as the most viable physical asset to be invested in and how this is the perfect time to do so. Sushil Mohta, President, CREDAI West Bengal, told the launch of only 17 projects during the period April to June 2020 against 46 new projects during the corresponding period in 2019 bears testimony to this trend. The obvious reason is no margins at current price points. This trend will continue till September 2020. However, it is a golden period for customers as home loan rates are at the lowest level and developers selling at the lowest price level in spite of huge increases in cost. Large parts of the inventory of ongoing projects will be sold out in a few months and that will lead to a price increase. New projects will come to the market only once prices increase, leaving some margins in the hands of developers.

Report: Anustup Kundu

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