Rising interest rates and slowdown in the economic activity globally was expected to dent the momentum of the real estate sector in India. Latest number proves otherwise. The initial uptick in the realty sector that we witnessed after the first wave of pandemic was more due to latent demand and fiscal incentives given by various state governments. It was expected that once these fiscal incentives go, the realty sector will lose its mojo and will go into slumber. Nevertheless, looking at the latest business updates from most of the industry players shows that the momentum is still there and likely to continue. Industry leaders are also very optimistic about the future of the industry.
India's real estate sector is witnessing a healthy increase in demand in 2022 and this momentum is expected to hold for the rest of the year. From commercial spaces to the residential market, the overall market outlook is a bright one for the real estate industry. Vikas Oberoi, CMD, Oberoi Realty summarized the scenario when he said that "with the increased economic activity and a strong consumer sentiment towards home ownership, there is a consumption-led momentum across all residential projects. Our other business portfolios commercial and retail - have also bounced back. With people coming back to office there is a strong impetus to the commercial segment. Our retail portfolio has also demonstrated a commendable performance with footfalls going back to and exceeding pre-Covid levels." On the forthcoming event he said that "we are committed to deliver value to all our stakeholders and believe in developing projects that strive to offer an enhanced, sustainable and healthy lifestyle. With a strong pipeline of new launches and a capability to design space that meets every need of the customer, Oberoi Realty is placed in a leading position in the real estate sector".
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