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Cashed-Up Property Developers in India Snap up Land Bargains

May 19, 2021
| By: Rebecca Bundhun
| Source Link: Click Here

It Comes from the Article

The surge in Covid-19 cases and stress in the real estate and shadow lending sectors have combined to drive prices down, experts say

 This comes after the sector saw a strong rebound towards the end of last year as the spread of the virus eased and optimism improved on the economic outlook.

“At present, there is a lot of uncertainty in the market and that is rubbing off on the land prices as well,” says Aditya Kushwaha, chief executive and director at Axis Ecorp, a developer that specialises in building holiday homes in India. “As a result, some businesses are looking to exit at a reasonable margin. This is a trend that is being seen across the country as people have become a little cautious owing to the second wave.”

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