Through 2020, the union government announced a series of reforms to revitalize the economy, and many of these target various facets of the Indian real estate sector, ranging from increasing funds for affordable housing, to incentivizing banks to disburse more housing loans, to removing hurdles to make information-technology firms more competitive. Sankey Prasad (FRICS), chairman & managing director, Colliers International India, said:

“As we look into 2021, we believe there is enough opportunity for a revival of the Indian real estate sector, backed by targeted reforms. As the economy recovers in 2021 and the employment level inches up, the residential sector, too, will see an uptick in demand, especially in the mid-range. During 2020, the government has initiated several reforms toward the real estate sector, aiding both demand and supply. We believe that affordable housing, led by the extension on interest of affordable housing loans, as well as the renewed rigor of the Pradhan Mantri Awas Yojana, will continue to gain traction.”