National News

Real estate sentiment at the highest level of the year

In the last three months of the calendar year 2020, the real estate sector was much better. This is the reason that the sentiment of real estate sector businessmen reached the highest level of this quarter year. Not only this, the developers’ sentiments are even better for the next six months. This information has come from the real estate sentiment index released by industry organizations FICCI, NAREDCO, and consultancy firm Knight Frank.
The country’s real estate sentiment index reached 54 points in the quarter from October to December. It has recorded a jump of 14 points compared to the quarter from July to September. With this, the index came into the positive zone for the first time in 2020. More than 80% of the people surveyed hoped that the economy would grow in the next six months. The Future Sentiment score also rose to 65 points in the fourth quarter of the previous calendar year, from 52 in the third quarter. In the eastern part of the country, the Future Sentiment Index of real estate has seen the fastest jump. It stood at 47 in the third quarter, reaching 66 in the fourth quarter.
The government is considering loosening the rules to attract FDI in construction. Permitting a Limited Liability Partnership to invest in the township, road, hotel and hospital constructions is among the proposals that are being churned. The government estimates that infrastructure-related projects will require an investment of $ 777 million by 2022. According to the data, from April 2000 to September 2020, FDI has been received in the construction sector at $ 2,570 million.

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