With the COVID infection rate in India reducing and cities unlocked in phases, the Indian economy is on its path to recovery. After slumping by a sharp 24% in April-June 2020, the GDP contraction was relatively muted at 7% in July-September 2020. Most economic parameters are now inching closer to the pre-COVID levels and some indicators have also started recording growth compared to the previous year. With the economy moving towards normalcy, the displaced labour has started getting re-absorbed, helping to improve the employment scenarioin the Construction sites of Development & Infra Projects. Supportive measures from RBI and the Government have aided the economic revival. RBI has cut policy interest rates, while announcing various other measures for liquidity infusion, one-time loan restricting and targeted supportive measures for NBFCs, MSMEs, Real Estate sector and other stressed sectors.
INDIAN REAL ESTATE
At the end of 2019, the residential market was already battling lacklustre sales, stagnating prices, falling investor demand and large unsold inventories across markets in various cities. With the RBI having tightened lending norms to the real estate sector and customer advances being prohibited by RERA, NBFCs had become a major source of funding for real estate developers over the course of this decade. However, the NBFC crisis at the end of 2018 left the industry with very few options, as investor demand had reduced dramatically in the past few years and the stagnating prices afforded potential homebuyers an opportunity to delay their decision while hunting for better bargains.
Just as it seemed like the residential market was finding its footing, the COVID-19 pandemic nearly stalled the market by the end of H1 2020 and the subsequent economic fallout was expected to keep the market similarly subdued for the rest of the year. However, contrary to majority sentiment at the time, the market has in fact clawed its way back from the lows seen in Q2 2020. The resumption of economic activity, reducing likelihood of further stringent lockdowns and the announcement & commencement of doses thereof, in phases, of a viable vaccine in 2021 allayed the fears associated with the pandemic. Developers also pursued aggressive sales strategies by being extremely flexible on prices and payment terms by allowing refundable deposits (on booking) and facilitating homebuyer financing to tide over the ongoing crisis.
The year 2020 proved to be a lot more resilient than most stakeholders had expected. Low home loan rates, regulatory interventions such as the further relaxations in RERA completion deadlines and more aggressive measures such as the stamp duty cut by the Maharashtra government helped the market survive and sustain this difficult period. The near-term outlook on sales remains cautiously optimistic, as buyers increasingly hunt for good deals in the backdrop of a slowly stabilising economic environment.
RAINTREE PARK DWARAKA KRISHNA, VIJAYAWADA
Raintree Park Dwaraka Krishna (RTPDK) is a way of life the people truly deserve. In a lush landscape of more than 100 acres, rise majestic blocks that offer about 1,600 stunningly designed apartments. The 2 & 3 bedroom units cater to every individual requirement. Open, sunlit and breezy, Raintree Park offers just the elegance, tranquility and security one needs for a quality lifestyle.
The USPs of the Project are:
The Township is strategically located between Vijayawada and Guntur with un-matched amenities in the region.
FULL FACILITY CLUB HOUSE | SWIMMING POOLS | CHILDREN’S POOL | SAUNA | GYMNASIUM | TENNIS COURTS | GAMES ROOM | CHILDREN’S PLAYGROUND | LIBRARY | MULTI PURPOSE HALL | SPACE FOR CHILD CARE | BBQ PIT | JOGGING TRACK | REFLEXOLOGY PATH
Phase 1 Apartments
Over 964 apartments are laid out in 12-storey high buildings, constructed on an elevated podium. This allows two levels of parking, exclusively for the residents. The apartment wings are around extensively landscaped, spacious courtyards. The Phase 1 Apartments are handed over to the residents in year 2012.
115 Independent Villas have been developed in a Villa Zone with an exclusive Club and recreational facilities. High Net worth Individuals have purchased the entire property.
Phase 2 Apartments
After Successful completion and handing over of Phase 1, the Phase 2 - Willows building comprising of 632 apartments in 12-storey high building is constructed on an elevated podium. The Project is completed in March 2018 and much sought by the buyers.
Other Amenities ready for use
Water enhances the environment as little else can. Capturing and releasing sunlight and moonlight, shadows and movement, the water's surface is a constantly changing kaleidoscope of images and moods. Proximity to water is a source of serenity, tranquility, pure pleasure…Which is why we decided to create a lake at the heart of RAINTREEPARK – DWARAKA KRISHNA. The lake will facilitate rain water harvesting as well. Surrounded by landscaped seating areas, benches, tree-lined promenades and open-air party area, the lake gladdens the eyes and hearts of everyone who live, work and visit this lifestyle enclave.
The Raintree Park Club
The Club offers a range of social, recreational, sports and fitness facilities in a gracious setting. Allowing you and your family to dine, entertain, play, relax, exercise, unwind and socialize—all in one gracious environment.
Membership to the club gives the opportunity to meet interesting people,build professional and social relationships—all in an atmosphere that encourages the spirit of camaraderie and good fellowship.
Facilities and services available at the club will include a swimming pool; a fully equipped gymnasium, Multipurpose hall, Table Tennis, Snooker, Sauna, Cafeteria, Crèche and outdoor games like badminton, tennis, Cricket, basketball, skating, Senior Citizen Park etc.
Advantage of the Location
Move away from congested streets to the lush landscaped residential zone on Vijayawada-Guntur highway. Strategically located between Vijayawada and Guntur, is the imposing entrance gate of Raintree Park. The site is surrounded by greenery and openness in a unique & serene setting. On the other hand, the area is in close proximity to Nagarjuna University, engineering colleges, schools, hospitals and railway station making it an ideal spot for home and high capital appreciation.