Page 179 - Abhivruddhi

KEYWORDS: Real estate, COVID-19 impact, Challenges

INTRODUCTION
The outbreak of corona virus that causes the COVID-19 disease has
resulted in a major economic upheaval around the world. While the
economic headlines in India have understandably focused on job losses
and stock market, investors should be cognizant of the potential impact
to the real estate market as well.
The pandemic enforced various sectors to adopt technology to meet
the social distancing frameworks. Real estate business is adopting various
methods to continue seamless operations through online platforms.
Online business has become the need of the hour. Professionals are
utilising this time to up-skill themselves and follow all the measures and
precautions performed during operations for the staff and labourers.
The Indian Real Estate sector, which was already struggling to re-
emerge from past turbulence of structural changes, policy reforms, and
the liquidity crisis, is now set to witness major fallout. In normal times, the
current time of the year sees an uptick in residential real estate activities
owing to festivals like Ugadi, Gudi Padwa, Akshaya Tritiya and Navaratri
when new launches and housing sales spike up.

OBJECTIVES
1. To study the challenges faced by real estate businesses.
2. To study the solutions developed by Vilas Javdekar Developers for
the safety of staff and for smooth operations during the pandemic.

RESEARCH METHODOLOGY
The Case Study approach has been adopted to study the role of Vilas
Javdekar Developers, one of the most reputed real estate organizations in
Pune, during the COVID-19 pandemic to enhance its operational activity
by taking all the precautions needed.

LITERATURE STUDY
According to research conducted by IIM Bangalore, the long-term
effects of this pandemic are expected to bring in lasting changes in our built
environment, transforming the real estate landscape in India. The Real
Estate sector in India is coming to terms with this reality and corporations
are working towards adapting to the new normal. Interestingly, no prime
market showed any downward movement in prices during the one-year

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