Mr. A Balajee Kumar, a member of the Hyderabad Realtors Association (HRA), his profession, relies on international training and coaching people across various countries on B2C business platforms in different domains and has gained substantial experience in his area. He also has two decades of experience in food, real estate, education, and direct sales and sat down with Mr. Ravi Kumar, CEO of PropertyAdviser.in, to share his insights on real estate considering the current pandemic situation. 

Mr. Ravi interviewed him to give his expertise on what is happening right now around the market, how each of the stakeholders, such as builders, buyers, brokers, bankers, vendors, etc., can view the COVID 19 lockdown as an opportunity and wait for the next five years. As well as his opinions about the state and development of the Indian real estate sector.

Q: How builders should see this as the opportunity as post lockdown, and how should they build their businesses?

Well, first, I will look into the sentence that you asked, how the COVID 19 crisis is an opportunity for real estate builders. So at the moment of crisis, we never understand and realize this sentence. But our biggest reference is our past, where we have to see why crises are an opportunity. The majority of things whichever had happened where people feel that they gained or they made profits or they have seen the changes.  Because they went ahead and found a solution, with some kind of problems or crises which they felt.  For other people who are not affected by that, it would never be a problem for them. 

Let me give you an example right now what we are going through is COVID 19, it is something which is happening every 100 years. The something of this sort was Spanish Flu, which occurred exactly 100 years back, 1920 scenario, and it went for nearly 2nd half years. If you read google or some references, you will understand that it is exactly the same as today's situation. So what we understood and learned from that is basically, our human race is very resilient, and we have bounced back and come back from any such circumstances. Now, for builders, how this extended lockdown would be an opportunity and how they can use this condition. 

As our builders are used to a particular system and have been running the same for 10 to 15 years, this lockdown time is a facility for them to start with innovative ways of sales and marketing activities. I will say that they have to take this period as new challenges to bring efficiency in their process, which helps them to build their business. It is the best time to adopt technology to improve their proficiency in product development. The lean model and the integrated maintenance solution should be followed in housing constructions for better results. Commercial developers have to see the revenue sharing models with companies who are there as it grows. They also pick up shares. So builders who are doing well will definitely fetch their business.

Watch the videos on How builders should see this COVID 19 crisis as the opportunity post lockdown by Mr. Balajee Kumar.

Q: How should buyers utilize this opportunity, and how does buying help them longer?

I would say that real estate investment is one of the prime goals for everyone to buy or build their dream home. For new buyers, this lockdown period is the golden time that comes once in 100 years. It is an excellent opportunity to use technology as they can visit the property directory portals like Property Adviser and look for high return areas or find the right home, which suits their family lifestyle. Also, to make the right financing.  It also an opportunity for the existing buyers to check on EMI's, make sure cash flows are proper for them, and manage them.

Watch the videos on How the Buyers should see this COVID 19 crisis as the opportunity by Mr. Balajee Kumar.

Q: How Brokers/Agents take this opportunity and how it helps them to move to make decisions?

Well, the brokers/agents can take this extended lockdown time as an opportunity to gain knowledge of education. They can spend more time talking to clients about the market. Using technology to improve their skills, they can make the future five years plans for generating revenue, and workout communication with people. Pre looking, predesign, and virtual ways of talking with clients helps them to move to make decisions.

Watch the videos on How Brokers Can Utilize COVID 19 Situation as an Opportunity by Industry Expert Mr. Balajee Kumar.

Q: How bankers, vendors, commercial companies, and the government see this as an opportunity to realign the industry? 

Alright, I say that India is a great place because we are self-producing and self-consumption ground. So the majority of things we are producing with ourselves as we are not dependent much on others. So in that way, I see that we will bounce back with respect to other places. I believe that the government can give an initial push where the whole cycle will start. The projects will come,  vendors will come into the picture, and they get their beat. While material moves out, people will slowly begin to buy houses. The new houses will come then new supermarkets, banks, hospitals, schools, etc. are required, and new corporates will come as the whole cycle will start hopefully. All stakeholders are waiting for post lockdown where things would go to change the push they have to do. Already the government has announced some measures which are helping real estate stakeholders to bounce back.

Watch Videos on the Roles of Government, Vendors, and Financial Institution to make the real estate sector running efficiently during COVID 19 By Mr. Balajee Kumar.

Q: What is your message to the whole community in real estate?

My message is that we should "embrace the change," and we would not fight it. The movement we start fighting against the movement, then it means we are spending our energies in the wrong direction. So firstly,  I would say If I am a builder or buyer or banker or owner,  if it is personally affecting me at this movement, then I should understand what I can control and whatnot. Secondly, take this lockdown period as a learning opportunity, and that will only happen when I embrace it. And start believing change will happen, then the world will definitely look different.  

 Real estate is that people look at their carriers these times while it is the second biggest sector.  People will be back in the market and expected to have a good turnaround once the situation returns to normal.

Stay Home Stay Safe.

By: Shailaja K