A novel solution for struggling real estate sector in Covid-19 times

Before Covid-19, the sector was grappling with multiple headwinds of customer reluctance, inventory overhang and half-baked projects across the country

The price of a residential unit, on an average, is 9-10 times annual income in a city like Mumbai, and about six-seven times in most tier-one cities
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The collapse of IL&FS and DHFL further compounded the woes of the sector.

Shekaar Subramanian
Mike Tyson, the world-acclaimed boxer, once famously exclaimed: “Everybody has a plan until they get punched in the face.”
The real estate industry is no different. The property sector was pounded by the triple tsunamis of demonetisation, the Real Estate Regulation Act, and goods and services tax, which left the industry in a much weaker position, given the toxic highs it witnessed during the earlier years.

Before Covid-19, the sector was grappling with multiple headwinds of customer reluctance, inventory overhang and half-baked projects across the country. The sector was reeling from a mountain of unsold inventories, flagging sales, tepid demand, and

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First Published: Jun 13 2020 | 10:45 PM IST

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