Real estate sector on road to revival; latent end-user demand at play

Like most sectors, real estate is also trying to fight back from the COVID-19 resultant slowdown.

“We have been very pleasantly surprised with the data,” Anuj Puri, Chairman of Anarock said in an interview with CNBC-TV18.

“... I didn’t expect the data to be so positive. Maharashtra has done well. Delhi has surpassed the pre-COVID levels of registration, Karnataka is almost at the pre-COVID level, Noida is 80 percent of the pre-COVID level and Tamil Nadu in September has surprised us with the highest number of bookings ever that we have seen,” he explained.

According to Anshuman Magazine, Chairman and CEO of CBRE South Asia, there has been a latent end-user demand which is coming up.

“We have seen an uptick from Q2 to Q3 at almost 40 percent. Primarily it is in the low-segment and the mid-segment housing is where the uptick is the maximum,” Magazine said.