The year 2022 has been both interesting and promising for the Indian realty sector. Ali Kochra, Chairman and MD Kochra Realty

The year 2022 has been both interesting and promising for the Indian realty sector. Ali Kochra, Chairman and MD Kochra Realty

The year 2022 has been both interesting and promising for the Indian realty sector. Dawning from the dusk of covid period and several uncertainties the industry anchored sectors like retail, services and SMEs to name a few.

Gradual increase in demand for spaces kept the good sentiment in the market going for investments. However, the year saw change in product requirements in a way that helped developers design better homes, features and prices for buyers.

A mix of small and medium spaces with work from home features evolved interestingly with demand for smart offices increasing was a win-win for segment growth.

Also, despite increase in repo rate, demand for real estate only grew stronger. Sales and registration numbers in most cities in the country were celebratory and encouraging.

In the end both customers and developers gained from changing scenarios in real estate. I think this has been the year where developers, governments and customers have come together for growth.

The year also witnessed the Supertech twin tower demolition; it essentially symbolised victory for both government and customers.

It was famously termed as Dussehra demolition; seen as victory for customers and people that instilled faith in the judiciary.

This did strengthen peoples’ buying confidence.We have seen strong and improved NRI investments into the country while people have also invested in overseas real estate.

The year indicate positivity in the sector and industry expansion where growth for one is supplementing to the other.

This will lead to improved processes that will lead to evolution for the industry. The year 2022 was in many ways was foundation for growth from the slump of 2019 and ambiguity of 2021.

In a way 2023 will have better scope for development basis the performance of the previous year.”

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