Dr Samantak Das, Chief Economist and Head of Research & REIS (India), JLL.
“The Indian economy grew better than expected by posting 8.4% growth during Q2 FY22 indicating the strength of the economy. The growth has been led by good monsoon, faster pick-up in economic activity and increased vaccination. ‘Construction sector’ GVA which comprises physical activities of the real estate and infrastructure sectors grew by 7.8% as against contraction of 7.2 % during the same quarter last year. The services part of real estate - ‘Financial, real estate and professional services’ segment grew by 7.8% as against a de-growth of 9.1% during Q2 FY21. Overall, it can be said that real estate sector has already been on the growth trajectory and the future would be even better if there is no other external shock. Indian residential real estate has been leading the growth story, with sales witnessing an upward growth of 65% on a sequential basis during July-September quarter. The economy is expected to perform better going ahead due to vaccination progress, improved momentum and better resilience which will augur well for the overall real estate business.”