Overview of 2021 and Outlook for Real Estate Sector & Industries in India in 2022
By Siraj Saiyed, Director, ARETE Group
For Real Estate Sector – “With vaccinations underway rapidly, the consumer interest is expected to gradually come back and hence both residential and commercial real estate are expected to benefit to become the pivotal segments towards economic growth, which will continue to register increased growth and demand through the upcoming one or two quarters of 2022. While residential sales are already witnessing an upsurge across various cities of India, the commercial and industrial real estate segment also has a huge opportunity to bounce back as we enter the ‘new normal’ age in 2022; particularly aided favorable factors such as low mortgage and bank loan rates combined with stamp duty waivers and realistic property pricing – altogether ushering a new era of growth for the new-age, digital-ready real estate and infrastructure sector in our country.”
For Industries & Development – “India has shown a great deal of resilience in 2021 to recover its economic and industrial growth pathway subsequent to the devastating effects of the pandemic second wave. Especially during the second half of 2021, the Government’s continued focus on “Aatmanirbhar Bharat” as well as its mission and vision of implementing favourable policy reforms for industrial growth in India, has proved to be instrumental in helping the industrial sectors to thrive along with a major boost in manufacturing activities and increased tech and digital adoption across various domains.
Notably, this was also the year when the Gati Shakti master plan was unveiled by the Government, as well as the Industrial Park Rating System (IPRS) 2.0 was introduced for optimising infrastructure competitiveness. Additionally, the Government had also, in August 2021, announced that it has approved the development of 11 new Industrial Corridors in India as a part of the ongoing National Industrial Corridor Programme (NICP) – which has the potential to act as a game-changer in accelerating industry-led development in our country in the years to come. As we move ahead to the New Year, i.e. 2022, notwithstanding the concerns of the latest Covid-19 variant – Omicron, we strongly believe that the core output, manufacturing and overall industrial activities will continue with their sustainable recovery momentum to eventually reach pre-pandemic levels.
