Among different options to invest money, real estate has grabbed substantial interest in the last 10 years. India is a growing economy and no matter how it is evolving, buying property is never a bad decision. While people imagine buying properties with beautiful surroundings and lively neighborhood, a house is just another commodity, which is an easy way for companies to make good amount of money. Therefore, before jumping onto any conclusion, it is always better to put in some effort and do a little research about the purchase.
A Brief Overview
When we talk about the last 15 years, India has surely taken an upturn in the growing demands for real estate properties. Whether someone is buying or selling a property, there are a few of the measures that are to be taken into consideration. Along with several other factors, the need for transparency in the real estate market in India is much demanded.
The rise of Residential property in India with different regions till 2013 has been explained very systematically in the image below-
The Indian real estate sector is turning out to be a lucrative destination for foreign investors because of its high demand growth and development. Both the commercial as well as private properties are gaining traction with increasing competition in the real estate segment.
The companies that have been coming up with new ideas and are launching different projects at a rapid pace are also keeping track of consumer’s demands. It is because, the need for affordable houses is quite evident and thus, developers are not oblivious to the fact. Hence, many of them are now re-aligning the prices according to the need and rising demand for affordable homes.
Future Scenario: How well do you know the Indian market?
Bangalore is one of the cities in India, which have been gaining attention due to the rising demands of affordable properties in India. However, since last year, the city has been facing a slowdown as builders are not able to meet the expectations of new buyers. In the hustle bustle of building uncountable properties, they forget to provide for a few of the basic necessities of buyers and that’s when they loste the plot.
Not just Bangalore, other prominent cities such as Chennai, Noida and Mumbai are also witnessing a rise in competition among developers. It is also because of the fact that buyers are becoming extra cautious while investing their whole lifes savings into a property. Factors such as weak economic conditions and concerns about overpricing are considered to be some reasons for buyers to change their plans.
The structural demand, which is propelling the real estate market right now, has left developers with no other option but to finish projects on time. The major concern of buyers is to get timely possession of their properties and then continue with the other processes of owning a house. Therefore, it would not be wrong to come to a conclusion that this market definitely offers scope for price flexibility and negotiation, which in turn makes it investor-friendly.