Improving job market to revive realty

As the economic activity picks up pace and the job market improves, real estate revival will also gain pace in the coming months.

 According to Nomura India, pace of economic recovery  quickened in August and gathered further pace in September. Nomura India Business Resumption Index  rose to 77.4 % , touching another post lockdown high.. As India gets back to work, we see improvement in the job market. Linkedin in its report had stated that by June, hiring had registered an increase of 35 percentage points. As per market reports, in July, hiring got close to 70% of pre-Covid levels, with companies filling up vacancies. As per Naukri.Com hiring activity is steadily increasing in sync with unlocking the economy. Naukri.Com’s Job Speak Index mentions that in the month of August, there was a 12% month on month increase in job postings. Moreover, MNCs are beginning to move work to India. They are expected to step up hiring for their global tech, R&D and other requirements. 

Signature Global’s residential and Commercial projects are already receiving a good response in the market. However, news of employment getting better will certainly show a positive impact on sales in the recent and forthcoming projects of the company in Gurgaon.

 Says Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global Group & Chairman, Assocham National Council on Real Estate, Housing & Urban Development, ” As the economic activity gains further momentum, we will see more easing of the job market. This assumes significance due to the approaching festive season . We expect to see the pent-up demand for housing getting converted into sales, with NRIs showing greater interest. Affordable housing segment will be making the faster turnaround.

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