<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The world economy seems to be experiencing one of the most severe downturns in recent memory. The latest pandemic has had a detrimental effect on the economies of several nations, including India. The International Monetary Fund forecast India’s growth rate at 1.9 % for fiscal year 2021, down from 5.8 % previously. This poses a significant challenge to the Indian economy. The resumption of work was complicated by the workers’ surprising return to the employers from underground. Developers struggled to locate enough job-creating jobs due to the labour market severe constraints. The populace is burdened by the great pestilence that threatens the nation. Indian real estate, which was still emerging from the implications of demonetization (November 2016) and other changes, was jolted by this pandemic, with building development halted and real estate transactions paused. Indian real estate should plan itself for a post-COVID-19 environment and be prepared to take several new and technology-driven moves to get back on track. The secondary data research methodology is used in this paper and the aim of the research is to discuss the pre-pandemic real estate market and the effect of COVID-19 on the Indian real estate market. Additionally, it discusses the risks and prospects confronting various real estate industry participants.</p>
</abstract>

The world economy seems to be experiencing one of the most severe downturns in recent memory. The latest pandemic has had a detrimental effect on the economies of several nations, including India. The International Monetary Fund forecast India’s growth rate at 1.9 % for fiscal year 2021, down from 5.8 % previously. This poses a significant challenge to the Indian economy. The resumption of work was complicated by the workers’ surprising return to the employers from underground. Developers struggled to locate enough job-creating jobs due to the labour market severe constraints. The populace is burdened by the great pestilence that threatens the nation. Indian real estate, which was still emerging from the implications of demonetization (November 2016) and other changes, was jolted by this pandemic, with building development halted and real estate transactions paused. Indian real estate should plan itself for a post-COVID-19 environment and be prepared to take several new and technology-driven moves to get back on track. The secondary data research methodology is used in this paper and the aim of the research is to discuss the pre-pandemic real estate market and the effect of COVID-19 on the Indian real estate market. Additionally, it discusses the risks and prospects confronting various real estate industry participants.

The Effect of Covid-19 on the Real Estate Industry in India

Baltic Journal of Real Estate Economics and Construction Management

This work is licensed under the Creative Commons Attribution 4.0 International License.

{"article-title":"The Effect of Covid-19 on the Real Estate Industry in India"}

The world economy seems to be experiencing one of the most severe downturns in recent memory. The latest pandemic has had a detrimental effect on the economies...

The Effect of Covid-19 on the Real Estate Industry in India

Data publikacji: 01 wrz 2021

Zakres stron: 122 - 129

DOI: https://doi.org/10.2478/bjreecm-2021-0010

Słowa kluczowe
COVID-19, global economy, Indian real estate

© 2021 Rashmi Jaymin Sanchaniya, published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

The Effect of Covid-19 on the Real Estate Industry in India

Data publikacji: 01 wrz 2021

Zakres stron: 122 - 129

DOI: https://doi.org/10.2478/bjreecm-2021-0010

Słowa kluczoweCOVID-19, global economy, Indian real estate

© 2021 Rashmi Jaymin Sanchaniya, published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Słowa kluczowe
COVID-19, global economy, Indian real estate