The impact of the Novel Corona virus on Indian Real Estate has been unprecedented to an extent that it has brought construction activities to a half and significantly eroded the market of its potential buyer-base. With property transaction dipping to near-zero during the nation-wide Lockdown, the sector is looking at challenging times ahead. The independence of supply chains, migration of labours, cost overruns, and liquidity constraints are some of the looming challenges. The COVID crises and its impact on Indian Real Estate is such that it is being considered as the third “BLACK-SWAN” event for the realty sector in the last five years, the first two being Demonitisation and the Implementation of RERA.
Sethia Infrastructure understanding the situation and riding on the immense trust placed by their customers were able to stand strong and despite the COVID-19 concerns and subsequent lockdown. They were able to sell more than 10,000 SQ.FT (approx 26-27 flats) in the duration of just 3 months in one of their projects Sethia Imperial avenue. The response was so positive from the customers that they sold
out all of their inventory from Floors 1 to 23 in the three months of lockdown (29th April 2020 till 30th July 2020). The most important reason why they were able to make such high sales was due to their strong loyalty towards commitment and understanding and fulfilling the needs of the customers. In a dismal year for most companies, Sethia Infrastructure boosted their hunt by the trend of working from home and offering attractive scheme with best payment plan which leads our clients to make fast decision. As a company they took measured approach to safeguard their customers in this Pandemic. They were ready with technologies like video conferencing, virtual tours, Social media marketing and used the market situation and digitally pushed with the products.
While the market and several developers remain weak and effected during the quarter owing Lockdown, Sethia Infrastructure gone beyond the traditional resilience planning strategies. They made sure that their client get an overall experience of our projects digitally in the ease of their time convenience. With the hardworking of each Sales Team members and Management support they achieved unprecedented Sales numbers in this tough time and stems to a wonderful case study how you can use a negative situation and make the best out of it.