India is one of the fastest growing countries in the world and is touted to be one of the superpowers in the coming years. The real estate market is one of the main contributors to India’s growth and development. The importance of the Indian real estate sector cannot be undermined and both the state and the central government has taken notice of the same.
In the last two years, the real estate sector has remained at a stagnant phase with the introduction of demonetisation, GST and regulatory changes in the form of Real estate (regulation and development) Act, 2016 (RERA).
The property prices are expected to remain fairly stable in 2019 as developers focus on clearing inventories rather than launching new projects. The introduction of affordable or mid-income and rural housing schemes are expected to improve real estate activity. The government incentives are pushing both demand and supply in this particular sector. The reluctance of NBFCs to finance the real estate has created a liquidity problem.
Trend Forecast for 2019:
MUMBAI: Mumbai is one of the fastest growing and wealthiest cities in India. With many employment opportunities, the city maintains its position as an investment hotspot with varied options among different price segments. Top localities in Mumbai include Dadar, Matunga and Bandra where there is a high livability factor as well.
In the affordable housing sectors, there are quite a few properties in Rs. 15-Rs. 25 lakh range, but most of these are in far off locations. There are some 6000 odd properties in the Rs 25-34 lakh range that are across Mumbai in emerging new localities.
DELHI: The national capital is a major hub and with a lot of employment opportunities, one of the preferred investment destination especially in the real estate sector. However, the property prices in the city have remained stagnant with most of the development now happening in the national capital region of Gurugram, Noida and Faridabad. The property prices here are quite overvalued and the rising pollution levels are a serious concern to address.
BENGALURU: The fastest growing city and a major tech- hub, the city of Bengaluru is a hotspot for investors. There are many new and prestigious projects that are being launched and developed here. With the introduction of RERA and GST the Karnataka market has picked up a fair bit. Areas of North Bangalore show a lot of promise. Especially micro markets like Horamavu, Devanahalli and Yelahanka. Investors are seeing increased rental incomes and multiple investment opportunities that are certainly exciting them..While prices have been stable in cities like Bangalore, Hyderabad and Pune, there has been a steady decline in cities like Chennai and Kolkata. The key issues with Indian real estate especially in cities are overvaluation of property and increasing the cost of borrowing. These lead to reluctance among new buyers as well as to prices of overvalued properties falling as the economy fights inflation.
Exciting and beautifully build projects by Vajram properties at Thanisandra main road and Yelahanka are an excellent investment opportunity. With Clear and precise paperwork, aesthetic designs, superior construction quality, return on investments and on-time completion of projects, this is one amongst the best real estate developers in Bangalore.