Demand for RTMI homes increases post-COVID
Jun 22, 2022
Mumbai (Maharashtra) [India], June 22 (ANI/BusinessWire India): Eastern Suburbs of Mumbai have become much sought-after amongst real estate investors and homebuyers. Top realtors have already made their way in this belt due to the promising infrastructural growth, affordability, accessibility, amplified ROI and its being a workspace hub.
The region stretches from Thane to Ghatkopar, spanning across Bhandup, Vikhroli, Powai, Kanjurmarg and Mulund. These locations are witnessing large-scale residential as well as commercial real estate development. The proposed metro hub in the vicinity, expansion of the Eastern Express Highway, accompanied by JVLR and the Freeway, is enhancing connectivity of the region to locations such as Thane, Andheri, Cuffe Parade, Nariman Point, etc.
Post pandemic, there has been a shift in consumer demand towards ready-to-move-in (RTMI) homes vis-a-vis under-construction projects. As per a report released by a leading real estate portal, the share of RTMI homes among total housing sales in the primary market rose to 21 per cent in the pandemic-hit year, from 18 per cent in the previous year. Also, as per Cushman and Wakefield research, RTMI homes in the price bracket of Rs 1-2 crore in Eastern Suburbs had maximum sales traction during Q1 2021.
Consumers are also opting for larger homes, developments with open spaces, amenities and a good community life. This is where Runwal Bliss, located at Kanjurmarg East makes a mark. It is the only large luxury development in the Eastern Suburbs with a new RTMI inventory. This development is a perfect blend of connectivity, convenience and lifestyle. The project features numerous lifestyle features such as a large clubhouse with resort-like amenities, a 6-acre Central Park next door, a proposed school, high street retail, and a green vehicle-free central podium of almost 1,20,000 sq.ft., play areas and much more.
Rajat Rastogi, Executive Director, Runwal Group said, "The trend of demand for RTMI homes in the post-pandemic period has been increasing and projects such as Runwal Bliss are catering to this demand. Our plan is to have a good mix of under construction and RTMI homes in our portfolio to have a wide consumer base."
Projects by credible developers, offering a strong value proposition, like those of Runwal Group, are always in demand and customers are willing to revisit their budgets and consider RTMI homes.
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