| | FEBRUARY 20234Before the pandemic hit like a bolt from the blue, the real estate markets across the country were on a trip to mars. The prices were so high that people who worked in the city's heart started settling down in the outskirts, expanding the civic infrastructure and often forming new satellite cities. The pandemic had an extinguishing effect on the flaring prices. The predictions were that the real estate industry would take a while to recover its lost charm. But the real estate industry, especially in Asia, has bounced back sooner than expected, despite the world moving toward a recession. The global scenario, however, paints a different picture. For instance, in the US, the continuous increase in interest rates has led to project cancellations, while the UK saw property investment returns falling by 10.4 percent in 2022. Compared to this, the APAC region manifests excellent resilience. Indian real estate market projections are a great example. According to reports, 2023 is likely to be a year of expansion and growth for the Indian market. This will be largely defined by the economy's stability, solid end-user residential demand, and infrastructure growth. However, the industry had a mixed reaction to the Union Budget 2023-24. While the announcements like enhancing the funds for PMAY to Rs 79,000 crore and increasing infrastructure spending look positive, the Reserve Bank of India (RBI) has recently increased the repo rate by 25 bps to 6.5 percent, which will have an immediate effect on your home loan EMIs. The builders were expecting deductions in home loan rates. It will be a tough battle for real estate organizations and a baptism of fire for the new entrants. Sujith VasudevanManaging Editoreditor@ceoinsightsindia.com'Real' Challenges Ahead of 'Estates' Vol 04 · Issue 5 - 1 ·FEBRUARY, 2023 Publisher Alok Chaturvedi Managing Editor Sujith Vasudevan Assistant EditorHeena Kousar NoidaRohit Raghubanshi Garima Anandadvertise@ceoinsightsindia.comEditorial queries editor@ceoinsightsindia.comAdvertising ManagersPrerna Khera To subscribeVisit www.ceoinsightsindia.com/subscribe/ or send emailto subscription@ceoinsightsindia.comMagazine Price is Rs. 150 per issueEditor Alok ChaturvediPrinted and Published By Alok Chaturvedi on behalf of Info Connect Web Technolo-gies India Pvt. Ltd., and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Copyright © 2023 Info Connect Web Technologies India Pvt. Ltd., All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher. Senior Designer Girish M Hari Shankar P AVP - Sales & Marketing Amrit SinghCirculation Manager Magendran Perumal Editorial Keerthana Kantharaj Roopalatha H Hima P. M. Editorial
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