MEDIA COVERAGE
December 23, 2019
How will the Indian residential realty sector regain momentum in 2020?
Rakesh Reddy, Director, Aparna Constructions, Multiple Sources
The Real-Estate Residential Sector in many major cities of the country had a downfall, but 2019 was a year of effective recovery. In recent conversations with multiple real estate magazines, our Director Mr. Rakesh Reddy discusses how the Realty Sector can continue to rebuild in 2020. Here is his prognosis-
- The sector is expected to grow at a rate of 30% compound annual growth rate in the coming years and with revenues worth $180 billion within a year.
- The reduction of GST on under-development projects and granting of infrastructure status for affordable housing projects are expected to bring property ownership within the reach of a wider audience.
- The funds allocated by the government will aid the completion of approximately 3.5 lakh affordable and middle-income housing units. Also, more people are expected to opt for REIT (Real Estate Investment Trust) for the expansion and growth of commercial projects.
- Streamlining the approval process with ‘single window clearance’ is also expected to have a positive impact on the growth of the realty sector.
To know more details about the growth expectations of the residential real-estate sector, click below to read the full articles
