Real estate sector positive, sentiment hits record high in December quarter: Report

The sentiment of India’s real estate sector remains positive.

The sentiment of India’s real estate sector remains positive. The Real Estate Sentiment Index has hit a record high during the October-December quarter. According to the Knight Frank- FICCI- NAREDCO Real Estate Sentiment Index report, the survey found that the stakeholders are positive for the next six months despite rising cases of corona virus infection. According to the report, the current sentiment index has touched an all-time high of 65 in October-December, 2021. The previous high of this index was 63 in the third quarter of 2021.

Sector optimistic despite third wave

In this index, a score greater than 50 indicates optimism in perception, while a score less than this indicates pessimism. Sanjay Dutt, Joint Chairman of FICCI Real Estate Committee and Managing Director and Chief Executive Officer of Tata Realty and Infrastructure Limited, said that the years 2020 and 2021 can be called historic years for the real estate sector. NAREDCO President Rajan Bandelkar said that the third wave of the Kovid pandemic has certainly affected the sentiment, but the index remains optimistic in the hope of it being temporary.

Let us tell you that the condition of real estate is thin due to Corona epidemic. Real estate developers have high expectations from Budget 2022. Although residential property sales have been witnessing a boom in the last few months, there is a brake on the pace of commercial property. Several reasons are being cited for the boom in residential property sales. At present, the interest rate on home loans is at a decade low, as well as the stamp duty has been cut by the state government. Real estate players have high hopes from Finance Minister Nirmala Sitharaman. They say that without the direct intervention of the government, it is not possible to strengthen this sector.

In this budget, a demand has been made to give industry status to real estate. This will speed up the investment as well as make the taxation process easier. After getting industry status, it will also be easier to get loans from banks and financial institutions. Apart from this, the demand for single window clearance is also being made for a long time. With this the construction work will be completed soon and the possession will also be accelerated.

(with PTI input)

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