[INDIA REAL ESTATE NEWS] Good morning everyone I am Nidhi from KI-KME. Here I have important INDIA economic news to share with you which is as mention under.|
The ongoing Covid-19 virus mayhem and concerns over the global economy are likely to curtail a number of residential project launches across the country during the upcoming festive season of Gudi Padwa, Ugadi and Akshaya Tritiya, which usually sees several new launches.
Developers are keen to focus on executing their ongoing projects rather than adding new inventory as they continue to grapple
The previous two quarters have been relatively better in terms of sales velocity. However, most developers are looking to utilize funds received from customers to execute the project and service debt as against spending on new launches.
“The Indian real estate market may witness fewer launches amid many economic risks curbing credit supply in an already liquidity choked economy,” said Niranjan Hiranandani - national president of industry body Assocham and the National Real Estate Development Council (Naredco).
Read more at: https://economictimes.indiatimes.com/wealth/real-estate/real-estate-to-take-a-dip-this-festive-season/articleshow/74623038.cms
Have a nice day.