Real estate sector is one of the most globally recognized sectors. The year 2020 was meant to be a year of recovery for the Indian real estate sector. After three years of business disruptions caused by demonetization, implementation of GST and the realty law RERA, and the NBFC crisis, the market had started stabilizing. But all hopes were thwarted as the COVID-19 global pandemic hit India. So, what was the impact of COVID-19 on this industry?
Also this sector in India is expected to reach a market size of US$ 1 trillion by 2030 from US$ 120 billion in 2017 and contribute 13% to the country’s GDP by 2025. Being such a significant industry, what are initiatives taken by government? What are the implications of government policies? What are the growth drivers?
The following analysis will answer all these questions.