HDFC's Deepak Parekh says Indian real estate market is on upward cycle

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He said the greatest mark of confidence in the realty sector has been the launch of new houses surpassing pre-pandemic levels. As income levels have risen, this will lead to younger people being able to afford houses sooner.

HDFC chairman said the real estate sector has demonstrated remarkable resilience during the COVID-19 and stronger players in real estate have consolidated their positions, "I can see deleveraging across Corporate India including real estate."

Talking about the economy, Parekh said "India stands out as one of the fastest-growing major economies, yet the country is not decoupled from the global economy."

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According to Parekh, "There is a shift in narrative that inflation is no longer transitory, and is getting more entrenched. We have the uncertainty of the impact of US Fed rates hikes on markets."