Insider Take By Ramesh Nair, CEO and Country Head (India) JLL | Economy Under Lockdown | Real Estate
Ramesh Nair takes us through the intricacies of the real estate business so far as well as potential solutions.
With office spaces being a game-changer for the real estate industry in 2019, the first quarter of 2020 saw a plunging 14% fall in residential sales just before the nation went into lockdown. Mr Ramesh Nair, CEO and Country Head (India) JLL, gives us a brief recap of what the previous year looked like for the industry, and what the future holds.
Despite the sluggishness, the branded and corporate developers managed good sales
On the investments front, close to 4.3b dollars come in through FDI in the last financial year - 13% lower than previous years.
Given that the sector contributes 8% of the national GDP and 6 crores employment, a wage subsidy scheme is in order. GDP schemes that were proposed weren’t met, working capital support for 3-5 months wasn’t provided, MSME schemes barely enough (collateral-free loans).
Ramesh Nair takes us through the intricacies of the realty business so far as well as potential solutions.