Reactions of real estate expert and developer on GDP rates announced by RBI.

“Considering that India imposed one of the most stringent lockdown, a sharp fall in Q1 GDP is on the expected lines. With things slowly and gradually returning towards normalcy, we expect a sharp bounce back soon. For that Government needs to implement some measures like stamp duty reduction as announced by the  Maharashtra Government.”

“The sharp contraction in India’s GDP is a cause of concern. It is more than imperative now for the Government to take more fiscal measures to not just perk up demand but also help restore confidence. The effective implementation of loan recast is essential. Similarly, measures like reduction in stamp duty and rationalisation of GST will encourage property buying. It will lead to significant employment generation as well.”