Jun 30, 2021
According to KPMG, the real estate industry has already seen a loss of INR 1 Lakh crore with the net leasing rates dipping by 33 percent.
The pandemic brought about several challenges with numerous businesses being affected monetarily due to complete lockdowns, reduced sales, and work from home mandates. The real estate industry, which contributes to 7% of the GDP of the country, was not spared either, and it took a toll on the business as a whole. This led to developers altering traditional industry methods, to keep up with the new normal.