The real estate industry has been under pressure. Commercial and affordable housing are the only silver linings. We look at what to expect in the coming months.
The $90-100 billion Indian real estate sector has faced two major challenges over the past four years – unaffordability and slowdown in sales due to lack of trust among customers. Consumers still aren’t ready to trust developers due to fear they may not deliver on time. So, while they are avoiding projects under construction, they are comfortable picking up homes that have been built. Still, the demand is largely in the top sixseven cities.
So, while developers struggle due to heavy debt and slow sales, financiers want them to sell inventory. Developers do not have much of an option but to listen to them. The courts have also sent some developers to judicial custody for not adhering to commitments.
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