Supply of new luxury homes in India has been constrained in recent years, hit by an economic slowdown in 2019 and then the pandemic, which dampened sentiment in 2020 and forced developers to put brakes on new project launches. But things are changing at a fast pace.
On the fringes of Gurugram, Sohna falls at the entry of the Mumbai-Delhi expressway and is likely to benefit directly from the new infrastructure growth. Realtors claim that the new development will escalate prices in Sohna now and in the rest of Gurugram in future.
International real estate experts Savills in their post-budget has defined that the real estate sector of India will benefit in the long term as more stress has been laid on infrastructure development in the budget outlay.
India's real estate sector is witnessing good growth after a two-year slump, and the recovery will continue for some time, Pirojsha Godrej, Executive Chairman, Godrej Properties, said in an exclusive interview.
Having gone through crests and troughs over last two years – with disruption in supply chain, labour shortage, halted construction and more, the Indian real estate scenario is getting back on its feet observes the President of CREDAI, Harsh Vardhan Patodia.