[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.
The construction and financial, and real estate and professional services sectors have shown
a negative growth of 8.6 percent and 1.5 percent respectively between April 2020 and March
2021 due the impact of COVID-19, official data released by the National Statistical Office (NSO)
showed on May 31.
However, in Q3 and Q4 construction witnessed a rebound before the second wave of
COVID-19. The construction sector saw a 14.5 percent growth in Q4 on a year-on-year
basis. This reflects a significant proportion of the government's investment in infrastructure
The financial, real estate and professional services sector saw a growth of 5.4 percent in Q4
on a year-on-year basis.
“The overall GDP growth numbers at -7.3 percent are on expected lines. In terms of the
construction and financial, real estate and professional services sector, it is heartening to see
the sectors rebounding in the third and fourth quarters. However, the overall annual growth
has remained in the negative zone because of the impact of the first wave in the first and
second quarters,” Samantak Das, chief economist and head of research, India at JLL.
Going forward, it is important to watch the impact of the second wave on the two sectors,
Read more at:https://www.moneycontrol.com/news/business/real-estate/india-gdp-data-real-estate-sector-contracts-due-to-covid-19-impact-in-fy21-6966121.html
Have a nice day