Real Estate Has A Win-Win Situation This Year

Rohit Poddar, Managing Director, Poddar Housing and Development Ltd shares his perspective on Real Estate India Outlook – 2022 India's real estate business has a bright future ahead of it, with strong demand expected. The real estate industry had a win-win situation this year. The number of property registrations in India's largest real estate market has reached a new peak. Despite the strong second wave of the COVID pandemic, property sales were likely to increase over the 2020 level this calendar year, driven by pent-up demand, festive sales, gradual recovery of India’s economy, stronger employment market, and low home loan interest rates. Even though the Maharashtra government has now increased the stamp duty from last year, the number of housing units registered is increasing year on year and has been on a constant climb in the last several months. Low home loan rates and falling property values are encouraging a significant number of purchasers to invest in real estate, which has proven to be more resilient to the pandemic than other asset classes that have fallen as a result of the virus' spread. As more and more organizations bring their staff back to the office, commercial office space too will see a gradual rise in demand.