Global recession devastates Indian realty sector, sparks urgent policy changes.
The global recession from 2005 to now has been tough, affecting big banks and stock markets worldwide. This caused problems in the housing market, including lower demand for real estate in India due to salary cuts and layoffs. Commercial rentals decreased, infrastructure projects slowed down, and builders had to lower prices. The paper looks at how the recession impacted India's realty sector, current situation, government policies, and business strategies to overcome the effects.