Realty in Recovery Mode

The Real Estate sector is on a recovery path, paving the way for sustainable growth in the coming years.
By Vinod Behl

With the receding pandemic, fast recovering economy, and a thriving job market, there are signs of promising times ahead for the real estate market, especially as the recovery in the residential segment is very encouraging.

The residential segment got a massive jolt due to Corona pandemic, with housing sales falling by 37 percent. But despite facing a slump in April-May 2021, demand in June rebounded to the levels of March. Further, in Q3, ‘21, the housing market rebounded faster, with sales registering 59 percent yoy increase. Along with sales, new launches also picked up in Q3. Affordable and mid-priced homes costing less than ₹45 lakhs and ₹45- 75 lakhs, respectively, had a combined share of 68 percent of sales, according to a PropTiger report.