Unsticking realty: Is demand really poised to take off?
Let’s rewind to the months before the pandemic. A market assessment by Liases Foras showed that half of the unit real-estate supply across 60 cities posed a high to very high risk because developers were not constructing in keeping with committed timelines. About half of these risky projects were located in the Mumbai Metropolitan Region (MMR) and the National Capital Region (NCR); the latter simply had too many projects vis-à-vis demand. About 140 projects had been shortlisted as stuck. And ANAROCK Research tells us that 1,322 projects and 576,000 units were stuck in December 2019.
We are all too aware of the lull that engulfed the country when COVID-19 struck. But by Septemb