Nagpur: The havoc wrecked by the novel Coronavirus (Covid-19) compelled never before seen circumstances on the world. This has resulted to economic halt in several important sectors, facing huge losses due to the pandemic. And one such sector is real estate.
Though the real estate business was moving on the tract, experts say, however, Second wave of Covid and then Omicron threat again jolted its recovery process, they said.
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23 April 2025
Speaking to Nagpur Today, angst real estate brokers shared their agony. Nagpur real estate market has been witnessing steady dip in the sale of Flats and Plots, they said. However, the sale of Farmhouses has seen a remarkable increase in recent times, they mentioned.
Lalita Gotmare, a broker by profession informed Nagpur Today, that the real estate sector in Nagpur has seen constant dip in property sales of Flats and Plots. This has further halted launches of several commercial projects in the city. Though, the market of Farmhouses has picked up tremendous momentum in recent times.
Lalita Gotmare
Ascertaining on reasons behind the sale of Farmhouses in Nagpur, Renuka Bobde, another broker elaborated that owing to adverse circumstances induced by the pandemic, it feels that people are willing to invest in the property away from the city. Thus, ending up securing Farmhouse as their dream home.
Renuka Bobde
While blaming Covid-19 for irrelevant circumstances, Umakant Tiwari linked the underdeveloped property schemes to poor the sale of Flats and Plots in the city. “Covid had indeed slowed down the real estate business; however, a well established housing society and developed plot schemes have received overwhelming response from the customers in the city. To woo customers, you need to have a well equipped blueprint of the housing scheme,” he said.
Umakant Tiwari
