The real estate sector started the year 2020 with the hope that the worst was behind it, but the covid-19 pandemic and the ensuing lockdown made it wince with a never-experienced-before pain. Sales plummeted by around 80% in the April to June quarter compared to the previous year, according to data from SquareYards, an online real estate transaction platform. For example, while the Reserve Bank of India slashed interest rates on loans the government extended the credit-linked subsidy scheme. We take a look at how 2020 panned out for the sector and what’s ahead. Also, with work from home becoming a norm in most offices, the demand for residential real estate in tier II and tier III cities has gone up.

Source: Mint December 30, 2020 00:56 UTC