Director, For 99 Acres
The year 2021 will be remembered as an eventful one, notably in the Real Estate Market. The sector grew rapidly in the first part of the year, until around April-May, when it saw a brief wobble due to lockdowns resulting from the second COVID-19 pandemic wave. However, the Real Estate Market has been on the rise since June. Both real estate divisions – residential and commercial, were stable in the July-September quarter.
The year 2022 appears promising, as the segment is on track to not only recoup but also exceed its pre-pandemic momentum. Low-interest rates and easy liquidity will help the overall sector, especially given the ‘Housing For All’ campaign. The Goods and Services Tax (GST) will be further rationalised, along with tax incentives, which will be a welcome stimulus.
Overall, we may say that 2021 will be remembered as a year of greater technological usage. In terms of technological adoption, 2022 will be the year of a more comprehensive rise for the realty market. Sustainable and green construction technology is expected to increase significantly in the next few years.
The sector will also invest this year in addressing the hurdles it has when embracing disruptive technologies. This will be done with the help of training and development programmes for employees to make them comfortable with virtual environments and data management.
Read more in the 99 Acres article featuring our Director, Mr. Rakesh Reddy.
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