How has the COVID crisis affected real estate in India?

Hero Housing Finance Ltd23 Nov, 2022Business

The outbreak of coronavirus or the Covid-19 pandemic has resulted in multiple negative repercussions for most businesses, and real estate is no exception. As individual customers - looking for investments in real estate or simply buying property to have a house of their own - became panic-stricken, the real estate industry saw a sharp dip in sales. Economic activities in India came to a grinding halt since the union government announced a lockdown on March 25, 2020. The lockdown was further extended till June 20 in the face of the rapid rise in the number of infected patients.