What role does employment growth play in real estate recovery | Atul Goel Ganga
Following the second wave of unemployment this year, a bigger number of people were affected, particularly small traders, daily wage workers, and those engaged in pandemic-hit sectors like travel and hospitality. According to the Centre for Monitoring Indian Economy, after peaking at over 11% in May, general unemployment in India has steadily decreased to around 9% as a result of mass vaccination coverage and phased opening across states. With a multiplier effect on 270 linked businesses, Indian real estate is the second largest employer.” A favorable policy environment, lower GST on key raw materials such as steel and cement, fiscal stimulus from the government in the form of stamp duty waivers or cheaper ready reckoner rates, and a plethora of large infrastructure projects would all encourage developers to start new projects. This will help the job market”, says Goel Ganga Group owner, Atul Goel Ganga Job security motivates home purchases Affordable housing in metropolitan area...