Rakesh Reddy, Director, Aparna Constructions, For Construction week magazine
Amidst the lockdown, the Realty Sector has witnessed a significant slowdown. As the soaring property rates is one of the biggest reasons behind the decrease in demand for residential projects, a webinar was hosted by the Construction Week magazine on the same. Our Director – Mr. Rakesh Reddy, along with many more experts from the sector share their thoughts on dealing with this challenge. Here are a few takeaways:
When compared to other sectors, the realty sector has not taken a huge hit from the low market sentiments and overall morale. Meanwhile, it is essential to find creative ways to continue work on the ongoing projects and ensure their completion on time.
Hyderabad’s Market has continued to surprise despite the given conditions. Reports show that the city’s market has withstood the pandemic as the demand has not taken a huge hit. The most certain reason behind this is due to the attractive prices of properties that continue to draw customers.
The only sector to take a hit was the commercial real-estate as the demand for it has dropped significantly. At the same time, affordable properties are not expected to run short on demand.
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