In the past few months, there have been many advancements in the real estate sector. We all are aware that there has been a surge in the sector with the new projects being launched every now and then.
Greater Noida has become a hub of new infrastructural advancements which in turn has generated an ample amount of employment opportunities. That being said, a striking resemblance to the economical year 2010 can be anticipated.
During the year 2010, just after the global financial crisis in the year 2009, the first nine months of the year 2009 saw a sudden dip in the Indian real estate sector by 71%.
However, in the year 2010 people understood the importance of having a tangible asset that will reap real benefits in the coming years.
There was a jump of 92% in the business recording investments worth $1.5 billion which earlier declined to $828 million during the first 9 months of the year 2009.
The same pattern has been traced in the year 2020. The experts are claiming a whopping growth in commercial estate investments. A strong V shape recovery is anticipated in the realty space as the business is picking up. The institutional investments are forecasted to reach a mark of $4.8 billion by the year-end.
During the first nine months of 2020, the business dropped by 73% recording investments worth $1.18 billion which was earlier $4.41 billion in 2019. However, the launching of the largest film city in India in Noida sec 21 and a 20-acre Data Centre in Greater Noida along with the Jewar airport has already increased the demand for residential and high-rise flats in the nearby locations due to walk to work culture.
According to the reports, the sector is expecting investments of $3.6 billion in the last quarter of 2020. The JLL reports state that only a gap of 8% will be incurred between the investments of 2019 and 2020. It will be really amazing to see how the understanding of smart investments and new investment opportunities in the commercial space will encourage investors.
Free Press Kashmir is now on Telegram. Click here to Join.
FPK Android App for 2G. Click here to Download.