[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.
Today, the second wave of coronavirus has imbued uncertainty in the sector resulting in a
temporary pause, but developers are now better prepared and well-versed with the
know-hows of a pandemic.
India’s resilient and burgeoning real estate segment has always remained an investor’s
favourite, and one of the most sought-after realty markets globally. The growth potentials
are such that the segment is poised to account for 13% of India’s economy by 2025. A major
wealth creator and one of the largest employment generating sectors, it has undoubtedly
feared unwanted consequences at the onset of the pandemic last year, but predicting the
challenges early and injecting quick reforms – which included financial assistance including
loan moratoriums, stamp duty cuts and tax reliefs through conducive government policies
and comprehensive and well-calibrated strategies — helped the sector continue its growth
even after a temporary pause in 2020.
The onset of pandemic followed by a stringent nationwide lockdown imbued huge challenges
before the sector, bringing it to a temporary standstill. Same sentiments were reflected in a
report that informed only 19,038 units were sold across India’s eight key property markets
during Q2 2020. Similarly, only 12,564 units were launched during this period across the
same markets. The sale of residential properties declined by 79% annually and new supplies
dipped by 81% in 2020. Furthermore, a dip in sales and supply of commercial spaces was
witnessed during the shutdown.
Read more at: https://www.financialexpress.com/money/resurgence-of-indian-real-estate-after-a-year-of-pandemic/2254767/
Have a nice day