Luxury is constant inspite of COVID scare: say, expert panellists


Realty WEBSERIES, presented by ICCPL, country’s leading PR firm in association with Realty & More, a renowned realty magazine, organized a webinar on the topic ‘Future of Luxury Housing Post Covid’ in its 7th edition. Experts reviewed the role of digital in marketing luxury projects, the value of location, new market that is expected to come post-COVID, etc. The panel included Nayan Raheja of Raheja Developers; Yukti Nagpal, Director, Gulshan Homz; Vikas Wadhawan, Group CFO,, &; Karan Kumar, CMO, DLF Ltd; Amit Goyal, CEO, Sotheby’s International Realty; Mona Jalota, Founder, Krypton Global Investments; and Ananta Raghuvanshi, Sr. ED, Sales & Marketing, Experion.

Home is so much more than just a shelter over one’s head; it is protection, a stable place to stay fit, and a place to develop family connections and welcome friends.

And now with the pandemic, housing signifies a place to work and stay guarded against COVID-19. Our homes became our offices, relying on technology to manage our work, socialize with our colleagues over online webinars and conferences, and ensure we earn our payroll checks. Teachers carry lessons online for our children. We have virtual medical visits when we require our family doctor or therapist. We try to decrease our visits to grocery stores and rely more on Amazon or online food ordering. We receive our orders at the doorstep, brought by postal workers, Amazon drivers. So you all know, how important is it to have our own homes, our relaxed & luxury lifestyle. Housing is upward economic mobility.  People are continuously in search of shifting to their own homes & even to a bigger house/apartment/villa & now a days, we see these trends.

Feeling more optimistic about the luxury market, Nayan Raheja, Executive Director, Raheja Developers said, “I see far fewer numbers moving in mid-segment because of job security but luxury is doing well. Last month we did the highest sales because of two projects in Delhi and Gurugram. I see a new segment opening up which is the farmhouse where people are isolated yet connected. People want access to open space. People who are stuck in apartments will be missing freedom of the farm. There will be an emergence of shifting to large spaces as nothing is more important than the well-being and people have now realized it more than ever. That emergence is happening and we can see that in numbers.”

The aftermath of the Covid-19 pandemic situation has established the fact that owning a home as well as moving to larger households where you are at comfort with all the conveniences is very necessary. Also, as we all know that the new trends in the real estate market such as virtual tours, tech based apps for the people to watch or select the homes of their choices due to COVID-19, a big shift towards the selection of online portals, with 75% of people, for whom offline was the first and only major source of property search earlier, say that they now prefer opting for online real estate portals to search their dream homes. There has also been a demand for virtual tours or visits wherein 60% of home-buyers stated that they would prefer to do virtual tours either to shortlist or to finalise their homes.