Real Estate Stocks Plummet for 7th Day: IT Layoffs & AI Impact Housing Demand

• Real estate shares fell for the seventh consecutive session, with the Nifty Realty index hitting a nine-month low.
• Ongoing layoffs in the IT sector, including TCS and HCLTech, are believed to be a major factor affecting housing demand.
• Analysts note a weakening in luxury and mid-to-premium housing segments, especially in IT-dependent cities like Bengaluru and Hyderabad.
• Concerns about AI and automation potentially impacting 30% of IT jobs by 2027 are further dampening market sentiment.
• Experts warn of a 'double-edged sword' situation for real estate, with potential for further declines if no stimulus or relief packages emerge.

Why It Matters: IT sector layoffs and AI concerns are significantly impacting housing demand, causing a prolonged slump in real estate stocks.