Saturday, June 14, 2025 | 11:44 PM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

With attractive deals, real estate becomes buyers' market amid Covid-19

Potential buyers face risks on two counts. The first is a possible salary cut or even job loss

The price of a residential unit, on an average, is 9-10 times annual income in a city like Mumbai, and about six-seven times in most tier-one cities
premium

The price of a residential unit, on an average, is 9-10 times annual income in a city like Mumbai, and about six-seven times in most tier-one cities

Sanjay Kumar Singh
Just before the lockdown began, Ritesh Chandra managed to sell his ancestral house in Uttar Pradesh. To avoid paying capital gains tax, this Delhi-based financial professional plans to reinvest the proceeds in another property in the National Capital Region (NCR), Lucknow or Jaipur. He has searched online and prepared a list of prospective sellers. “I am waiting for the lockdown to end and will then do on-the-ground due diligence,” says Chandra.

Like him, thousands of prospective buyers across the country have been stymied in their efforts to purchase a house. A survey conducted by real estate portal Magicbricks in the