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India's troubled real estate industry needs urgent reform

Rising costs are depressing demand and hitting profits

| India
A construction crew works on a new building in Dharmsala on March 4: India's real estate sector is witnessing a K-shaped recovery.   © AP

Prerna Sharma Singh is an award-winning economist specializing in policy and regulation. She is a director on the board of Indonomics Consulting Private Limited.

Following India's financial media, one gets the impression that the revival of the country's real estate sector is just around the corner, with top companies reporting robust sales. But according to the official statistics, India's construction sector actually contracted by 2.8% in the three months to the end of December last year.

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