How the Real Estate Industry can outperform pre-pandemic momentum with the correct approach?
Mr. Rakesh Reddy, Director, For Multiple Publications
While the impact of the COVID-19 pandemic did not fail to tarnish a portion of 2021, the year overall has been rather eventful for the realty sector. Right after the 2nd wave ended somewhere near June, the demands and sales of properties raised rapidly thus giving us a glimpse of the possible continuing growth in 2022 as well. In fact, now with lower interest rates, ease of liquidity and rationalisation of GST for under-construction projects coupled with tax benefits the realty sector is expected to not only regain its pre-pandemic momentum but even surpass it.
In terms of city-wise realty growth, Hyderabad took the lead in 2021, compared to the previous year, there was a 19% growth. In terms of new releases, Q3 had an increase of 189 percent year over year, a 40 percent increase over Q2. Another city to witness positive growth in the realty sector was Bengaluru.
By 2025, India’s Real Estate Sector is estimated to be worth $300 billion, accounting for roughly 13% of the country’s GDP. Demand for integrated gated communities and plotted developments are expected to continue to rise in 2022. This is owing to the fact that working from home has become the new normal.
Read more about what our Director, Mr. Rakesh Reddy has to say about realty growth in 2022 in articles published in The Free Press Journal, APN News and more, here:
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