businessworld.in-India's Housing Sector Surfing From Headwinds To Tailwinds
The Indian residential real estate (RRE) segment, which witnessed nearly a decade of sluggishness, has demonstrated remarkable resilience in the post-covid era. Prior to the pandemic, the sector was reeling under various challenges of demonetisation, the enactment of RERA, non-banking financial companies (NBFC) crisis, and pessimistic consumer sentiments, CareEdge Ratings has said in a report.
As the industry seemed to navigate these challenges, the pandemic posed a severe setback. However, after a brief hiatus, the pandemic also emerged as a catalyst for resurgence, as sentiments towards home ownership turned more positive than ever. This pandemic-induced demand was also augmented by significantly low interest rates, rising income levels, increased household savings and supportive policy initiatives such as stamp duty cuts from various state governments.
