Covid Impact on Construction Industry
The pandemic had a significant impact on India's real estate sector as well as the growth of the construction industry. Every other area of the global economy did poor. The construction industry and real estate sectors have recovered more than most. According to a report on 99 Acres.com, India's building industry growth has lost close to INR 1 billion since the pandemic began. For many real estate developers and the construction industry, there was a lack of funds. Due to factors like loan, residential sales in India's top seven cities fell from 4lakh units in 2019–20 to 2.8lakh units in 2020–21. The entire construction industry and residential demand fell by more than 40% in the first half of FY21. The growth of the construction industry is recovering. Not that COVID-19 is no longer a factor or that the world is free from its impact. The industry, on the other hand, has learned from the first and second waves and is better prepared to tackle the virus while continu...