Realty worsens in last 6 months; stakeholders hopeful
In one of the first real estate sentiment indices, Industry body FICCI and residential and commercial property consultancy, Knight Frank India have concluded an overall negative sentiment for realty across all zones including the National Capital Region (NCR) and Mumbai Metropolitan Region (MMR). The index further cited that the mood have got worse than what it was in the last six months.
The basis of the index is the findings of the quarterly survey which captures the supplier side perspective on the real estate market conditions across top seven markets in the country. In addition to the NCR and MMR, the survey also considered Pune, Chennai, Bangalore, Hyderabad and Kolkata to represent the Indian real estate scenario.
The hope amidst darkness is, however that most of the respondents which include realty developers, contractors, PE funds, banks and financiers, are positive about the economic scenario and expect the conditions to improve in about six months time.
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