For realty developers, confidence builds on pent-up housing demand

Low interest rates, tax sops may encourage buyers

After the second wave of Covid-19 hit residential sales by an estimated 50 per cent in April and May this year, real estate developers and analysts expect pent-up demand to boost the sector. Lower interest rates, tax sops for affordable housing, right pricing and other incentives are likely to draw buyers back.

“The slowdown was more in the conversion since a lot of prospective buyers were looking at closure once lockdown restrictions were lifted,” says Pirojsha Godrej, chairman, Godrej Properties. “We now see an increase in site-level walk-ins across cities. We are also expecting launch approvals since government offices have started