Real estate will sustain its upward trajectory in upcoming fiscal: Aman Nagar, Paras Buildtech
The housing market, a significant growth driver in the real estate sector, is poised for a remarkable year ahead. Residential sales have already witnessed a substantial increase following the Covid-19 period. Nationally, price increments of approximately 7.5% are expected, with varying rates across different cities, says Aman Nagar, JMD, Paras Buildtech.
In an exclusive interview with Sanjeev Sinha, Mr Nagar talks about the growth prospects of the real estate sector and shares his business outlook. Excerpts:
What are your expectations from real estate sector in the upcoming fiscal year?
In the forthcoming fiscal year, the Indian real estate sector is likely to sustain its upward trajectory and meet the expectations of investors. The presence of commercial real estate funds in the market has attracted individual investors seeking consistent passive income from secure real estate investments. The overall Indian economy is exhibiting positive indications, with a projected growth rate of 8-9%, heightened job creation, and a recovery from the recent downturn in the stock market. These factors will contribute to an upsurge in housing demand as more individuals enter the market, which is vital for the robustness of the real estate economy.
Moreover, the government’s ambitious infrastructure projects, including highways, airports, and metros, along with initiatives such as ‘Housing for All’ and the Pradhan Mantri Awas Yojana will propel growth in the real estate sector. The commercial real estate segment is expected to yield favourable returns as major IT companies transition back to in-person operations and retailers gradually resume operations at physical stores.
The housing market, a significant growth driver in the real
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