With the top seven cities in the country witnessing a 113% increase in housing sales along with robust sales in the commercial property segment in Q3 2021, the realty sector appears to be on a steady path to revival. Residential real estate sales during July-September went up 92% on a year-on-year basis, while office transactions during July-September went up 168% on a year-on-year basis. The Mumbai Metropolitan Region, alone contributed to 33% of total sales, followed by NCR with a 16% share. New residential launches, declining covid cases, record-low mortgage rates, and a variety of factors are driving the bounce-back. Has the Indian real estate sector finally hit recovery mode? Is the turnaround sustainable over the long run? Developers from across India including Rajendra Joshi, CEO, Brigade Group, Boman Rustom Irani, Chairman & MD, Rustomjee Group, Navin M. Raheja, MD, Raheja Developers, and Gulam Zia, Executive Director, Knight Frank India analyze the sector on the India Development Debate. Tune in!
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Originally published at https://www.youtube.com/watch?v=l2U1XRn9SEc