Lack of PP bothers real estate sector
S Vishnu Sharma, INN/Chennai, @infodeaofficial
Lack of purchase power among the people doesn’t seem to hold good news for real estate sector. While economic slowdown has already become a prominent topic for talk, Infodea went ahead to know about the effects of economic slowdown on real estate sector.
The news website spoke to people from Chennai who have been associated with the real estate sector for more than a decade.
Various estimates may say that real estate is expected to become an industry worth one trillion by 2030 and the sector is expected to contribute about 13 percent to the nation’s GDP.
However real estate professionals say recovery in the real estate sector has not been bright post demonetization. Non-Resident Indians (NRIs) have managed to show more interest in real estate sector and this has come with some good news.
This is expected to enhance interest in people to buy houses and prove beneficial to real-estate sector subsequently, he says.Sachin Mehta, Jain Housing
However, demonetisation proved troublesome to those who were trying to make money the wrong way. People doing business honestly had nothing to lose.Durga Prasad, Olympia group