With home becoming the be-all and end-all of one’s interaction with real estate space during Covid 19 lockdown, one realizes the work-from-home may actually spur a thought movement to work-for-home in the post Covid era
By Namrata Kohli
Having a home during Lockdown has been a privilege. As we think of migrant labourers, homeless people on streets, or doctors having to check into hotels, even cars, we can’t overemphasize the importance of that space called home. A home lends us identity, preserves dignity and provides shelter and is indeed one of most defining part of our existence.
That part of earth we call our own- home is a haven of peace, privacy, safety where we not just live but this place can perform many other functions too like doubling up as office, school, restaurant, theatre, library, studio. Hence home is no longer restricted to being one’s private den only, but an uber dynamic space which is both multidimensional as well as multifunctional. Here everything happens- right from personal and emotional interactions to social, intellectual, spiritual with this becoming the virtual melting point of family time, play time, solid work, learning, fun and entertainment.
Lockdown unlocks newer possibilities for home. The idea of home office and home school were not new but people were skeptical about its practical application. Now that everyone has been forced to take the plunge and it’s been tried and tested, it is spurring ideas of revolutionary change in the way things operate. Private sector entrepreneurs and school owners are finding the model of remote working and distance learning, not just viable but also beneficial. Businessmen are already considering giving up half of at least one third of their office space as they find benefits in outsourcing certain functions to employees working out of home. What’s more everyone is happy with this arrangement- be it employees or employer. A major slimming of budgets will mean scraping off the extra pounds of commercial space and institutional real estate.
Social media is abuzz with this joke – “Until now, the best vaccine against Covid 19 is made by builders- a Home!” Isn’t this true. In my view, residential real estate is poised to become the engine of growth in post Covid times, of not just the real estate sector but India’s economy, despite the headwinds of downturn. People may now want to invest in a comfortable, modern home- one that is “as spacious as their pocket can afford”. Barring luxury, I see demand picking up for everything from affordable to mid end housing in India. Too early to say, but commercial’s (real estate sector) loss may be residential’s gain!