Residential property in India is like a mazed puzzle; one needs to be deliberate; take logical analytic decisions; be able to join all the pieces; and probably the most important of all – have faith on God.
18 Août 2016
Real estate in India has been in the limelight more than ever and there are several reasons for it. When we talk about the realty market, one thing that pops on everyone’s mind is the global financial crisis of 2008-09. After this period of time, things started to become steadier and builders too got a hold of the exact situation of Indian real estate market. Apart from these changes, government’s role also came into forefront and that made situation easier to handle and understandable by both the buyers as well as developers.
Introduction of New Policies
The real estate demand came with a major boom in the industry and that has been possible with the help of government policies. The regulations launched are not only helping to bring transparency but is also making buyers comfortable and confident about a decision they are making. In order to overcome a slow progress of realty sector, Indian government has stressed on developing the smart cities project along with affordable homes for every section of the society.
Increasing differences in the social sector of the country has made it troublesome for developers to build properties that are suitable for everyone. For example, to boost cash inflows for builders, government has introduced rules relaxation of FDI. This has been done by reducing capital requirement and minimum built-up area that also eases out the exit norms for both the parties.
Residential Vs Commercial Properties
While there has been a lot of debate about the most wanted property in India, there has never been a clear answer to it. To start off with the discussion, it is rather difficult to decide which one has an edge over the other. The residential and commercial properties are both in demand and have been showing a tremendous growth over the last decade. As urbanization is on a roll, so are the demands associated with it!
When people move to urban areas, they obviously need a place to stay and be a part of living in a developing city. This has been the situation with residential properties in the country and thus, commercial properties too are in sync with it. The fact that people who move to bigger cities are doing so for better employment opportunities, has made this relation to grow stronger over the course of time.
The Future Outlook
Although, in India the smart city concept is still picking up pace, one thing that holds true is the increasing demand of real estate properties. Therefore, in this regards, India has a lot to learn from foreign investors that are always aware of the market situation and then act accordingly. While it is still unknown that how far real estate India could climb in this race, it surely has made some phenomenal changes so far.
Emerging trends in the country has forced developers to step out of their nutshell and move beyond contemporary way of building properties. There is still a lot to be achieved and we are already on the road to recovery by learning some good lessons from the real estate pitfalls.
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