Realty of coronavirus: Big developers to gain, small ones may go bust

Consolidation in real estate industry since 2012 is likely to strengthen after the pandemic ends, say analysts.

Bengaluru-based real estate developer Avinash Reddy was in talks with a landowner to seal the deal on one of the biggest projects of his life. But once the lockdown kicked in, Reddy’s much wished-for five-acre villa project near Bengaluru airport vanished into uncertainty.
 

“We wanted to fast-track the project as it is near the airport and we saw a lot of potential in it,” says Reddy, who has been in the real estate business for 13 years. Now he doesn’t know if it will happen at all. In fact, he has dropped all plans to launch projects in the near