Mar 2020
20

Impact of COVID19 on Indian Real Estate Sector

By Rakesh Reddy, Director, Aparna Constructions and Estates Pvt Ltd
324

“The impact of Coronavirus on the Indian real estate sector will depend heavily on the duration of the outbreak. If prolonged, the commercial real estate market would be severely affected by the delayed expansion plans of foreign companies due to travel restrictions and the uncertain global economic scenario. There could be an indirect effect on construction as allied sectors such as steel and heavy machinery rely on importing raw materials from China. This would also impact the luxury real estate market that relies on high-end fixtures, fittings and furniture from China.  A significant disruption in the supply-chain may force builders to source from alternate markets, which will impact costs. Any areas of high population density are susceptible to Coronavirus. At Aparna projects, we are taking all necessary precautions to prevent the spread of the Coronavirus among our residents and staff. We are also continuously educating residents, housekeeping and security staff about safety measures including frequent handwashing, social distancing and practicing good hygiene.”

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Rakesh Reddy Director, Aparna Constructions and Estates Pvt Ltd
Articles 4
Updated: 20 Mar 2020
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