[INDIAN REAL ESTATE NEWS] Good morning, everyone. I’m Kim suhyeon staff of Kamagroup Pvt. Ltd.
Here I have an important Indian real estate news to share with you which is as undermentioned.|
The real estate sector has been down and out for about five years, with the last two years being particularly bad on the back of demonetisation and implementation of Real estate (regulation and development) Act (RERA) 2016 and goods and services tax (GST). So, at the beginning of 2018, the sector clutched on hope, though tentatively, that the worst was behind and things would only improve from thereon.
Most stakeholders were of the view that things would finally settle down in 2018 and the sector will beat the lull. In fact, in the first three quarters of the calendar, supply side stakeholders successfully built the narrative that the worst is over and the sector has started moving north, especially the housing segment.
But all green shoots vanished when the non-banking financial crisis (NBFC) crisis struck in October. The crisis has only increased the problem for developers and sector. While prices are expected to remain stagnant, project execution and deliveries may get impacted in 2019.
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Have a nice day.