Which way is 2023 going to go- will it be a rebound in China or global recessionary challenges coming up in general, and more particularly the Real Estate Sector? A year 2023 looks very exciting and positive, especially with the GDP growth number of 6.2% better compared to any other western country. But with India’s demography and the current geo-political situations we have had several wins like getting cheaper petroleum from Russia, our internal markets, including stock market have remained high, real estate volumes have grown between 15-20% depending upon the type of sector. But our growth path has been unprecedented, inspite of the fact that interest rates have gone up. Moreover, though home loan rates have gone up from 6.5% to 8.2%, Home Finance has gone up 20% across the board. Covid pandemic surprisingly has benefited the real estate sector more, with upper segment growing faster than the affordable segment. All these prove that we have been more resilient to the international head winds.
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