The Real Estate Pile-Up
Developers are sitting on unsold inventory worth Rs.3,700 billion.
A rebound in India’s residential property market will be influenced by the intensity, spread and duration of the COVID-19 pandemic.Government stimulus measures and monetary policy adjustments by the RBI will further mitigate the adverse effects of the pandemic and help steady consumer confidence in the residential property market, according to the India Residential Market Update Q1-2020 recently released by real-estate consultancy firm JLL.
The homebuyer community deferred their purchase decisions owing to the evolving COVID-19 outbreak, which led to sales declining by nearly 30 per cent in Q1 2020 on a year-on year basis. “The impact of the ongoing pandemic on business activities became more prom