New Delhi, April 8 -- A rebound in India's residential property market will be influenced by the intensity, spread and duration of the COVID-19 pandemic. The government stimulus measures and monetary policy adjustments by the Reserve Bank of India (RBI) will further mitigate the effects of the pandemic and help steady consumer confidence in the residential property market, according to 'India Residential Market Update Q1-2020' released by JLL, India's real estate consultancy firm.
The homebuyer community deferred their purchase decisions due to the evolving COVID-19 outbreak, which led to sales declining by nearly 30% in Q1 2020 on a y-o-y basis. "The impact of the ongoing pandemic on business activities became more prominent since the beg...