[부동산] 부동산 부문은 최악의 상황은 끝났지만, 재정 지원은 더 필요합니다: NAREDCO
[INDIA REAL ESTATE NEWS] Good morning everyone I am Rumi Dhar from Kama Group.
Here I have important INDIA real estate news to share with you which is as mention under.
With the real estate sector witnessing increased transactions and positive consumers’ demand
after the COVID-19 pandemic-induced lockdown, the National Real Estate Development
Council (NAREDCO) has said the worst is over for the sector, but more financial support is
required to bring it back on the growth trajectory.
It also said demand for commercial office space is expected to be back to 80 percent of the
pre-COVID level after July as more people return to work after vaccination.
“There is a positive sentiment visible across the economy, and as GDP growth happens
through the V-shaped recovery, the aspect of recovery in commercial real estate, especially
office spaces, remains a concern in light of ‘work from home’ as also ‘work from remote
location’. Similarly, while the SWAMIH Fund has done well, there are many stalled and
delayed projects, recovery of which will need ramping up of the quantum of the fund as also
allowing financial institutions to participate in the process,” said Niranjan Hiranandani,
National President, NAREDCO.
“Home loan interest rates are at historic lows; some states have reduced stamp duty rates.
What is also needed is support for project finance, and I hope positive steps happen – and
soon. As the vaccination drive shifts into high gear with the public-private partnership, one
expects normalcy to return by June-July this year,” he said at a virtual session on Reality of
During the webinar, panelists spoke about the improving customer sentiment post various
policy announcements by the governments and the segments that have seen traction during
the pandemic. Experts also said growth momentum should be sustained and developers
should not increase prices.
Read more at: https://www.moneycontrol.com/news/business/real-estate/worst-is-over-for-real-estate-sector-but-more-financial-support-needed-naredco-6594601.html