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Builders And Developers Hopeful On Real Estate Market Bounce Back

The real estate market in India has witnessed sudden sluggishness due to the pandemic. But the developers and builders are hoping the property market will bounce back as it is before. The biggest cities in India which are the lifeline for property buying and selling are the biggest losers in the current scenario. The builders and developers are still in a dilemma whether to sell the property at a discount price or to hold till the business reaches normalcy.

real estate market in India

The major share of real estate and property services business is generated from the top 1 tier cities like Delhi, Mumbai, Chennai, Hyderabad, Bengaluru, Pune and Kolkata. The real estate market is majorly dependent on the income levels of the people. All the industries are now in crisis because of the coronavirus pandemic. There is a huge number of job losses and pay cuts across all the industries and sectors in India. IT, healthcare, manufacturing, food sector and all the human resource based industries are witnessing a downfall. This is the primary reason for slowdown in the Indian real estate and property services market in India.

The real estate market has seen lows in the past decade but that did not stop it from bouncing back. Before the pandemic the real estate market  in India was moving at a slower pace. Property sellers were hoping for better rates then. But the situation turned bitter from February 2020. Now the positive thing is that Indian government has given indications that there could be no more lockdowns. All the industries are reopening their businesses. Though the market is sluggish, businesses will catch the growth pace as the normalcy levels increase. 

It is notable that some startups in India are doing job recruitment for their companies. India and US relations are now more better than ever, with our PM Modi pitching Make In India and Atmanirbhar Bharat the exports are expected to increase. There are new medicines and vaccines for coronavirus are being launched by many pharma companies in India that have export potential. 

All the above positive signs will bring back things to normalcy and will help the real estate market in India to gain the lost business.