The apprehension of recession since Corona has worked to put brakes on the growth of this sector. In such a situation, it is expected from the government that it will make some big provisions in the budget to bring boom in this sector.
If any sector has suffered the most during the Corona period, then one of them is real estate. This is the first budget after Corona, when the government is presenting the budget without any Corona guidelines and any major problems related to it. In such a situation, it is expected from the government that it will make some big provisions in the budget to bring boom in this sector. The apprehension of recession since Corona has worked to put brakes on the growth of this sector.
People looking for a sustainable future
Siddharth Katyal, Group Director, Omaxe Limited, said that the Indian real estate industry is one of the fastest growing sectors in the country, but its growth is currently witnessing a slowdown, owing to factors such as urbanization, rising disposable income, and growing middle class. Inspired The industry has definitely experienced a paradigm shift in the last two years, with people looking for a sustainable future. The need to ‘be home’ has increased in a big way. Home ownership has undeniably become a safer investment in these extremely volatile times after the massive growth last year, but it is happening only in a few places.
The year 2023 can be a turning point for the real estate industry
This is set to make 2023 a significant year for strong growth in the real estate market, both in the residential and commercial segments. We believe that the government’s objective of ‘Housing for All’ will directly encourage the targeted segment to lease out their homes, thereby giving a fillip to the efforts to increase the housing stock in this segment. We are optimistic that the government will shape its policy actions this year to further boost real estate demand. As a home is a continuously appreciating asset that creates wealth across generations, we can assume that the future of Indian residential real estate is compellingly promising.
