Cash-rich real estate developers reap lockdown benefits with increase in market share - The Square Times
India’s real estate sector is weathering another storm of late after being caught in the thick of a raging pandemic. Flagging sales, squishing margins and continuing liquidity crunch have come back to haunt the property sector again after a strict lockdown was enforced; at a time when the sector was picking up its pieces to restore its lost glory. The real estate sector which contributes nearly a tenth to India’s GDP has had its fair share of tragedies in its lifetime. The sector was going great guns when it went through a change of fate a couple of years ago with structural changes, policy reforms and liquidity crises. The property sector witnessed major consolidation then as more than half of the real estate developers who were active in the market in 2011-12, left by the year 2017-19. This consolidation at that time resulted in an increase in market share of projects by top 10 developers by 2018. Fast forward a couple of years and the real estate sector is witnessing a similar stor...