Real estate sector will become bullish post COVIC-19: Experts

Real estate sector will become bullish post COVIC-19: Experts

Agency News

Hyderabad, Apr 20: Real Estate Sector will become bullish and positive post COVID-19 and Hyderabad will remain the most favorite investment destination, Real Estate experts and consultants opined during a Webinar conducted by The Federation of Telangana Chambers of Commerce and Industry (FTCCI) titled - Facing the Global Pandemic - The Way forward for Real Estate.

The highly accomplished real estate panelists believed that this phase is only a pause for growth and Investment traffic is neither lost nor diverted, thanks to the pro-active initiatives of the Telangana Government for its measures in containing the COVID-19. FTCCI vice-president K Bhasker Reddy said, “The Centre’s ‘Make in India’ programme might get a boost from this difficult situation in the medium to long term, but short-term pains for developers are inevitable. Dropping prices in a scenario like this is hardly the answer, he added. However, the government might launch measures that might make it more lucrative for buyers to invest in property.

It is also expected to support real estate, the second-largest employment generator in the country, by waiving off tax on unsold inventory”, Reddy said. Srikanth Badiga, chairman of the infrastructure, real estate and smart cities committee, said, “it is planning to give representation on various issues like timeline extension, property tax and stamp duty exemption for next one year.” (UNI)