Once it starts, real estate will take 1-3 months to get back to action: Niranjan Hiranandani

Commercial real estate figures had just started improving and now the Covid 19 pandemic has spoilt it all. How long will that standstill continue?Honestly, it is very difficult to guesstimate about the COVID 19, much more difficult to understand how and when we are going to start. My gut feeling as far as this is concerned is that in the next one week, we should see a partial start up in most of the areas barring the red zones. Once it starts, it will take about one to three months for the industry to get back to action. But the problem does not end there. There are two major problems. One is the demand driver which has vanished and the second part is the liquidity crisis which still is not addressed completely though a good start was made by the RBI governor in terms of providing a two-year sabbatical for the purchases of real estate in terms of extension of time. My reading is personally they will need much more in terms of demand drivers, something like a GST reduction of 50% or so across the board and I also speak as an Assocham president. The second part which I… Read full this story

Once it starts, real estate will take 1-3 months to get back to action: Niranjan Hiranandani have 308 words, post on economictimes.indiatimes.com at April 24, 2020. This is cached page on Drudgereport. If you want remove this page, please contact us.