Real Estate Market, 6 Months After Demonetization!admin
Demonetisation did rattle the real estate market initially, but 6 months down the line, all that can be seen is hope and positive prospects for growth coupled with results on the ground indicating a brilliant turnaround. Let us take a look into the real estate market after demonetization & its statistics as of now:
The Current Scenario After 6 Months
The primary market was never affected and with the reduction in interest rates and attractive discounts and schemes being offered by developers, the sales have started increasing. The prices have also been down in major cities of the country thereby making this the best time to invest in property. By the end of the year or the beginning of next year, prices should start moving north again! For now, all major banks have reduced home loan rates and are also offering never-before-seen deals to borrowers resulting in demand growing on a healthy basis.
The government’s budget initiative of giving SOPs for affordable housing has also started showing results with a lot of projects being launched in the aforementioned category. The major demand is in the price bracket of Rs. 20 lakhs to Rs. 75 lakhs that is also witnessing a lot of action in terms of projects being launched and erstwhile projects getting completed and being delivered. The tax benefits for the homeowners is only adding to the increase in demand. All major developers in the country have launched projects in the affordable housing category.
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The Road Ahead
With less launches in the past year and increased sales, the unsold inventory has gone down a bit and with improved liquidity, most of the developers are able to offer SOPs to attract potential buyers to more of their projects.The economy is looking healthy and with lower oil prices, the growth prospects are looking positive, which means more money in the pocket of common man to invest in. Implementation of RERA (Real Estate Regulation Act) has also brought confidence among the buyers and will go a long way in ensuring transparency and efficiency thereby making housing segment an investor’s paradise.
This is the best time to invest in your dream home or in a project that can offer you rentals and higher returns on investment. The effects of demonetization have faded and economy is on its way to roar again; the best time to be part of the growth bandwagon through smart investments in real estate!
Gurgaon real estate is SOLID, it’s only getting stronger even demonetization can’t affect the growth.
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