92% real estate developers planning new launches in 2022 if ease of doing business improves

A report predicted that 92 percent of real estate developers are scheduling new launches in 2022, 65% are inclined to review new business models and 60 percent of developers forecast price increment up to 20 percent. The report also highlighted the prime considerations of the developer community. 

The Confederation of Real Estate Developers' Associations of India (CREDAI) is the apex body of private real estate developers in India, representing more than 13000 developers across 221 city chapters in 21 states. 

The Annual Real Estate Developers Sentiment Survey 2022 by the CREDAI revealed that 35 percent of respondents expect prices to rise by 10-20 percent, while 25 percent of builders expect a 10 percent hike, and 21 percent expect a rise of 20 to 30 percent. 

74 percent of developers surveyed want Ease of Doing Business, and 55 percent of developers are anticipated to work with virtual reality in 2022.  

Harsh Vardhan Patodia, CREDAI-National president stated that they expect the government to take additional safety and precaution measures for any effect of COVID-19. 

He stated that the majority of developers are emphasizing digital transformation which has increased online sales with 39 percent of developers selling 25 percent of their stock online.