Real estate in India is currently in a fine position and poised for high growth in the near future. According to the recent market research reports, the country has stepped out of the real estate depression and now entering into a more stable phase. There has been a drastic change in the investment opportunities and the way people perceive this business in India. During the time this trend was introduced, not many of us were aware about the future of realty sector in India, however, with time the notion has indeed changed.
There used to be a term known as ‘real estate depression’ and that mostly covered the sinking market of the country. It was a time when builders were not sure about their new projects as the old ones were also not getting sold. Moreover, buyers were also skeptical about the prices as well as the demand situation of property in India. This proved out to be a complete disaster affecting the economy and future prospects of foreign investments in the country.
Off to a Steady Start
After the year 2010, there were a lot of assumptions about the trends that were shaping up the realty sector in India. However, once the market got hold of itself, builders started getting approvals for their new ventures and buyers were also satisfied with the prices. Since then, real estate has gotten a firm grip on the market and has no plans of slowing down anytime in near future.
From affordable housing to generating employment for many, the realty sector of India fulfilled every need of the hour. Being the second largest industry after agriculture, real estate has now become one of most fulfilling markets in India. For developers and investors, this is signaled out to be the best phase as they can balance transparency and decide on a particular place to invest their money.
The new regulations in the country have moved the real estate business into the right direction with minimum efforts. According to the latest laws, a particular project could only be launched in the market if it has all the necessary approvals from the government. By further prioritizing the need of such rules and regulations, builders have to take charge of the right prices to be offered to buyers.
Gazing into the year 2017
Amidst all the ups and downs of real estate in India, one thing that becomes sure is the growing need for it. The market has evolved tremendously and now getting into the groove of new tunes being sung by the investors. The realty sector is maturing and how! When we look into the proposed statistics of next year, it becomes clear that the increasing prospects are going to help builders decide their next move. Further, the demand and supply situation is also becoming more dependable making both the parties comfortable in spending their money on India property.
Hence, with these developments and some current trends, the real estate market of India is only going to move in the forward direction.