Worst over for realty, demand up, says E&Y

The recession-hit Indian real estate sector is crawling towards recovery with the return of end-users as well as institutional investors in the market, according to consultancy firm Ernst & Young.

The recession-hit Indian real estate sector is crawling towards recovery with the return of end-users as well as institutional investors in the market, according to consultancy firm Ernst & Young.

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“The real estate sector is generally looking positive now. End-users are back in the market. Several developers are announcing new projects. Institutional investors, particularly private equity funds, are starting to look at projects for investment,” E&Y Associate Director (Real Estate Practice) Chintan Patel said.

The sector fell into a deep crisis after the economic meltdown and the return to buoyancy was delayed as prospective buyers chose to wait and watch.

Patel said end-users had begun buying as the fear of further economic slowdown and job losses had abated. PTI