Sustainable Strategies for Real Estate Sector in the Context of Covid-19

Abstract

Thereal estate and construction sectors have a significant influence on the economy; environment and society.This sector is considered as a robust and profitable one in India and has seen strong development over the period 1991 to 2012. Throughout the present decade, the infrastructure sector is experiencing difficulties in the face of significant production shortfalls. In COVID-2019 scenario, the rates of inflation and unemployment have gone up. At the same time, the potential buyers for real estate products have fewer funds to invest in the said products. The industry survey released on 6th May 2020 by Economic Times reported that businesses are grappling with 'tremendous uncertainty' about their future. The Government has issued notifications to commence operations in the real estate sector. Still, problems have many facets like availability of material, labourers & working capital on one side and creating a readymade market to sale the real estate products on the other side. The research paper aims at finding out the sustainable strategies after considering all the constraints and challenges to be faced by the real estate industry because of COVID-19.