The significant rise in the real estate sentiment index ahead of festive season , favours boost to home sales.
According to 26th Knight Frank-Ficci-Naredco Real Estate Sentiment Index for July-September quarter has risen to 40 from 22 in April-June quarter. This perking up of the sentiment has a lot to do with the upturn in residential segment. The stakeholders score of developers has gone up to 56 in Q3, up from 39 in Q2. The residential sales volumes increased to 55% of pre-covid levels in the September quarter. The office sector has also seen revival in leasing activity. The future sentiment index has also shown upward movement from 41 to 52 over the next 6 months. The future sentiment index in the north has seen maximum improvement- jumping from 38 in Q2 to 55 in Q3.
Says Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global and Chairman, Assocham National Council on Real Estate, Housing & Urban Development, ” The resumption of business activity and improvement in macroeconomic activity has contributed to uptick in realty sentiment index. And this upturn in realty sentiment index ahead of festive season bodes well for the revival of real estate.