The Effect of Covid-19 on the Real Estate Industry in India
The world economy seems to be experiencing one of the most severe downturns in recent memory. The latest pandemic has had a detrimental effect on the economies of several nations, including India. The International Monetary Fund forecast India’s growth rate at 1.9 % for fiscal year 2021, down from 5...
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| Format: | Article |
| Language: | English |
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Sciendo
2021-01-01
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| Series: | Baltic Journal of Real Estate Economics and Construction Management |
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| Online Access: | https://doi.org/10.2478/bjreecm-2021-0010 |
| _version_ | 1818309007833563136 |
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| author | Sanchaniya Rashmi Jaymin |
| author_facet | Sanchaniya Rashmi Jaymin |
| author_sort | Sanchaniya Rashmi Jaymin |
| collection | DOAJ |
| description | The world economy seems to be experiencing one of the most severe downturns in recent memory. The latest pandemic has had a detrimental effect on the economies of several nations, including India. The International Monetary Fund forecast India’s growth rate at 1.9 % for fiscal year 2021, down from 5.8 % previously. This poses a significant challenge to the Indian economy. The resumption of work was complicated by the workers’ surprising return to the employers from underground. Developers struggled to locate enough job-creating jobs due to the labour market severe constraints. The populace is burdened by the great pestilence that threatens the nation. Indian real estate, which was still emerging from the implications of demonetization (November 2016) and other changes, was jolted by this pandemic, with building development halted and real estate transactions paused. Indian real estate should plan itself for a post-COVID-19 environment and be prepared to take several new and technology-driven moves to get back on track. The secondary data research methodology is used in this paper and the aim of the research is to discuss the pre-pandemic real estate market and the effect of COVID-19 on the Indian real estate market. Additionally, it discusses the risks and prospects confronting various real estate industry participants. |
| first_indexed | 2024-12-13T07:23:20Z |
| format | Article |
| id | doaj.art-4012894d5df24fadba8e8ffaa2296acb |
| institution | Directory Open Access Journal |
| issn | 2255-9671 |
| language | English |
| last_indexed | 2024-12-13T07:23:20Z |
| publishDate | 2021-01-01 |
| publisher | Sciendo |
| record_format | Article |
| series | Baltic Journal of Real Estate Economics and Construction Management |
| spelling | doaj.art-4012894d5df24fadba8e8ffaa2296acb2022-12-21T23:55:21ZengSciendoBaltic Journal of Real Estate Economics and Construction Management2255-96712021-01-019112212910.2478/bjreecm-2021-0010The Effect of Covid-19 on the Real Estate Industry in IndiaSanchaniya Rashmi Jaymin0Gujarat Technological University, Ahmedabad, IndiaThe world economy seems to be experiencing one of the most severe downturns in recent memory. The latest pandemic has had a detrimental effect on the economies of several nations, including India. The International Monetary Fund forecast India’s growth rate at 1.9 % for fiscal year 2021, down from 5.8 % previously. This poses a significant challenge to the Indian economy. The resumption of work was complicated by the workers’ surprising return to the employers from underground. Developers struggled to locate enough job-creating jobs due to the labour market severe constraints. The populace is burdened by the great pestilence that threatens the nation. Indian real estate, which was still emerging from the implications of demonetization (November 2016) and other changes, was jolted by this pandemic, with building development halted and real estate transactions paused. Indian real estate should plan itself for a post-COVID-19 environment and be prepared to take several new and technology-driven moves to get back on track. The secondary data research methodology is used in this paper and the aim of the research is to discuss the pre-pandemic real estate market and the effect of COVID-19 on the Indian real estate market. Additionally, it discusses the risks and prospects confronting various real estate industry participants.https://doi.org/10.2478/bjreecm-2021-0010covid-19global economyindian real estate |
| spellingShingle | Sanchaniya Rashmi Jaymin The Effect of Covid-19 on the Real Estate Industry in India Baltic Journal of Real Estate Economics and Construction Management covid-19 global economy indian real estate |
| title | The Effect of Covid-19 on the Real Estate Industry in India |
| title_full | The Effect of Covid-19 on the Real Estate Industry in India |
| title_fullStr | The Effect of Covid-19 on the Real Estate Industry in India |
| title_full_unstemmed | The Effect of Covid-19 on the Real Estate Industry in India |
| title_short | The Effect of Covid-19 on the Real Estate Industry in India |
| title_sort | effect of covid 19 on the real estate industry in india |
| topic | covid-19 global economy indian real estate |
| url | https://doi.org/10.2478/bjreecm-2021-0010 |
| work_keys_str_mv | AT sanchaniyarashmijaymin theeffectofcovid19ontherealestateindustryinindia AT sanchaniyarashmijaymin effectofcovid19ontherealestateindustryinindia |