What would be the prospect of real estate in the year 2020?
The year 2019 did not go well for the Indian real estate sector. It continued to remain stark due to the funding crisis amidst grappling NBFCs and the banking sector. On top of that, the economic slowdown during FY 2019-20 made the situation worse. All these factors attributed to the poor demand for the housing sector. However, there has been a rise in demand for offices and commercial spaces. Two major reforms were introduced in the country- the Real Estate Regulatory Authority (RERA) and Goods and Service Tax (GST). These reforms had a negative impact on the sector and the current state is such that there is a huge number of unsold units and flats in Hyderabad and other cities of India, despite the requirement for the house is high in the country. So, what would be the prospect of real estate in the year 2020? Commercial Segment According to a recent report, despite the economic slowdown in the year 2019, the Indian real estate sector is expected to grow b