With job losses looming large for those employed in the IT industry, demand for residential realty across Indian IT hubs of Bengaluru, Hyderabad, Pune, Navi Mumbai and Noida could be impacted, a recent study said.
According to a study by property consultant Jones Lang LaSalle, since Bengaluru and Pune both rely heavily on IT companies for not only job creation but also to drive office and residential real estate demand, these markets face the maximum risk from an IT meltdown.
As per industry body estimates, Indian IT and BPO sectors employ close to four million people in over 16,000 companies and the middle management is at maximum risk of job loss in these times of disruption, increased automation and artificial intelligence.
via Job losses in IT industry to impact residential real estate | Business Standard News
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