Road Ahead for Real Estate Prospects & Challenges
The recent headwinds in the form of higher cost of construction and interest rates may only have some short-term impact on the recovery of the real estate sector, post-covid. The mid to long-term growth prospects, however, remain intact due to strong fundamentals.
Vinod Behl
Post-covid, the realty sector has made remarkable recovery; this is evident from the surging revenue collections through property registrations in all the states. The cumulative revenue collection by way of stamp duty and registration charges from 27 states and UT of J&K topped Rs 1.71 lakh crore in FY’22, recording a 34% increase from a year ago. Maharashtra topped in revenue collections of Rs 35,593 crore, with Mumbai and Pune markets contributing 21% of the overall state revenue from real estate transactions. The improved health of the sector is also evident from the sharp rise of 20-50% in hiring by the listed realty companies in the second half of FY ‘22, with bulk of the hiring in marketing and sales.
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Concrete Construction June - July 2022
