Residential real estate strongly poised for a bounce back : Godrej Properties

I would not be surprised if after a year, year and a half we start seeing a very strong come back in real estate sector, says Mohit Malhotra, MD & CEO.

There is no denying that real estate as a sector has been hit hard. It is not just Covid, but pre-COVID as well, the sector was really grappling with issues. How do you see the prospects of real estate changing now and in particular, commercial real estate post Covid because all of us are going to live completely differently. If work from home is the new reality, that is bound to hit commercial real estate?

We have been hit as any other sector due to the lockdown, but we might have a short term disruption over the next six to nine months depending on how long the economy takes to revive. Our sector has been under a downturn for almost eight years and once the lockdown is over, once the economy bounces back, we will see a very sharp recovery in residential real estate sector because affordability is at all time high.