Brace Yourselves for the Real Estate Market of India

Real estate in India has not always been as attractive and profitable as it is now. Just like any other business, real estate also overcame bundle of hurdles to make itself strive in the market. Earlier, there was a time when realty sector had its own set of loopholes that made buyers skeptic about the whole idea of buying properties. However, as time passed the market became more stable and is now counted among the top real estate destinations all over the world. After showing some strong signs of revival in each state, the real estate sector is now flourishing with some new projects lined up and increased market value.

Apart from providing residential and commercial property to buyers, real estate sector in India is also providing employment opportunities for many. In order to address the key challenges of real estate associated with urbanization, government has also introduced several reforms.

Affordable Housing leads the way

After a sluggish performance in 2015, builders ramped up the numbers of affordable housing projects that became a lucrative deal for buyers as well. In the first half of 2016, the trend of building more affordable properties continued and has now become one of the most beneficial markets to invest in. Cities such as Delhi, Mumbai, Ahmedabad, Bangalore, Pune and Kolkata are on the threshold of becoming the most talked about destinations of India in terms of real estate. These cities have witnessed a rapid jump in the construction of housing projects and are showing no signs to slow down.

As mentioned earlier also, government’s initiative to introduce Housing for All by 2022 is here to make sure that under the scheme each and every family has a property that they can actually afford. Under the scheme, first time home buyers are relived with a deduction of Rs 50,000 if the loan amount is less than 35 lakhs and a house value of Rs 50,000 lakhs. This initiative provides a very open and transparent method of knowing how much a buyer owes to their bank and the original worth of a property they are buying.

Real estate in India is soon becoming a money-making affair for most of the buyers as they are now able to understand the whole process of buying and selling. On the other hand, developers are also understanding the real potential of affordable housing sector and investing most of their money here. In order to cater to the rising demands of buyers, builders are now planning to launch new as well as larger properties in most of the metro cities. Increased urbanization is giving a push into the economy of the country where small families and individuals are migrating to settle down in big cities.

Talking about different terms and investments in real estate, global investors are desperately eyeing to spend their money in the real estate market of India. Especially after the Real Estate Regulatory Act (RERA), foreign investors are immensely enthusiastic about buying property in India. After coming across the growing economic growth of the country, global investors are not holding back to invest in the new high-rise properties in India.