NEW DELHI: With the real estate sector seeing an increase in transactions and positive consumer demand after the foreclosure, the industry the pillars agreed that the sector is slowly getting back on track, with financial institutions now making long-term financing available to the real estate sector.

Developers are now optimistic for future growth and optimistic for an unprecedented recovery. However, the worst of the pandemic is still not over and real estate developers are still working together to overcome the challenges.

Niranjan Hiranandani, national president, NAREDCO said: “There is a positive sentiment visible throughout the economy, and as GDP growth occurs through the V-shaped recovery, the aspect of recovery in commercial real estate, especially spaces of office space, remains a concern in light of ‘working from home’ as Similarly, while the SWAMIH Fund has worked well, there are many blocked and delayed projects, the recovery of which will require an increase in the amount of the fund while allowing financial institutions to participate in the process. “

“Interest rates on home loans are at historically low levels; some states have reduced stamp duty rates. What is also needed is support for project funding, and I hope that positive steps will happen – and soon. As the vaccination campaign shifts into high gear with the public – private partnership, normalcy is expected to return by June-July this year, ”Hiranandani added.

Renu Sud Karnad, General manager, HDFC said: “There is a huge opportunity that we are all seated on. Interest rates are the lowest and developers have been sensitive to pricing, and government initiatives such as stamp duty cuts have played an important role. People venture out and buy houses. Developers must continue to do their best to ensure that prices do not go up. “

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