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GDP Q1FY21 numbers: Real estate sector contracts 5.3% in April-June quarter due to COVID-19 onslaught

India’s GDP growth numbers, released today by the Central Statistics Office, has shown that the coronavirus-induced disruptions have ravaged the economy.

The real estate sector has been also felt the heat with numbers falling by 5.3 percent in Q1 FY21 from 6 percent growth in the same period last fiscal, the Central Statistics Office data showed.

The government had imposed a nationwide lockdown from March 25 to curb the spread of COVID-19 infections, which adversely affected all sectors of the economy.

Though the contraction is deep, worse was expected, real estate experts said.

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