Mumbai, December 8. Real estate sector will experience a growth of 2.25 percent and 3.75 percent in 2021 and 2022, respectively, according to a latest poll by a news agency Reuters. But that is a downgrade from 2.50 percent and 4.50 percent growth forecast by the same agency made in August.
Moreover, even if those forecast of annual increases turn true, it would remain below consumer inflation ,which was forecast to average 5.2 percent and 5.4 percent in 2021 and 2022 .
Meanwhile, it is expected that the average Indian house prices would rise 6.5 percent and 6.0 percent in 2023 and 2024, outstripping consumer price inflation by then.
India’s ongoing vaccination drive and reducing COVID-19 cases have buoyed consumer sentiment since the latter half of 2020. As homebuyers are returning to the market, developers are slowly phasing out discount schemes, The existing low interest regime is also attracting many new homebuyers, said the survey.
