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What should potential buyers expect from real estate in near future?

Saturday, June 01, 2019

By Gautam Thapar
Thapar Builders Pvt Ltd

The shape of real estate industry in 2019 has been and shall continue to depend on several factors such as technology, demand, level of easiness in doing the business and the after-effect of reforms such as GST, RERA among others. And in 2020, affordable housing is expected to become common among metro and micro-metro cities.

After a year of new reforms and acts, the real estate industry is trying to recover from the liquidity crisis since the beginning of the year 2019. Several industrialists suggest that this year will be all about providing affordable housing solutions to the home buyers and some time for the landowners to clear off their unsold properties before starting any new project.

Post the General Elections 2019, the confidence of home buyers have certainly increased after understanding the government’s intentions for them.
Genuine developers are equally hopeful about the regulatory bodies interfering the otherwise irregular procedures in this sector. This shall increase the cash flow for many of the realtors.

The future is both residential and commercial housing for metro and micro-metro cities like. Builders have already materialized the opportunity in areas such as Bengaluru, Chennai, and Hyderabad which have become development hubs for investors in metro cities while places like Bhiwadi and Halol in NCR and Gujarat, respectively, have chances to see progress in the coming few months.

For 2020, there will be a colossal extension for the commercial spaces because of the expanding number of multinational companies, new businesses, co-working spaces and online business which are likewise the key drivers of this section. IT spaces as far as area and necessities are concerned, will likewise develop as a model pattern for business land development in India. Rentals in business realty will turn into the embodiment of development, as the financial specialists will in general lease a business space as opposed to getting it.

There’s a good news for home buyers too. As engineers adjust themselves to basic changes executed in a previous couple of years and with changing interest rates, one can anticipate that private housing should improve in 2020. On the standpoint for housing segment, it is believed that the demand-supply situation is required to improve and unsold stocks are probably going to decrease further. Reasonable housing will drive free market activity, upheld by a few government changes.

Exchange resources, for example, co-living, understudy and graduate housing will keep on collecting more prominent enthusiasm from end-clients and builders.

Other important aspects of real-estate to look at:

  • Researchers foresee that builders will keep on diminishing condo sizes, to keep homes reasonable for buyers. The FSI standards may likewise experience changes, with higher FSI being conceded in focal and rural areas.
  • Land players are presently changing the principles of advertising. Likewise, there is a change in purchasing behaviors. With the severe financial challenges, the realtors may increase financing costs.
  • Rentals are required to be on the development bend, with a normal increment of two to eight percent year-on-year, particularly in residential areas that are near business office markets.
  • Decrease in the GST rates for land, to emphatically affect under-development activities' deals.

Looking at the current trends and future predictions, it is the ideal time to invest and analyze the growth patterns with every new project entering the market. In other words, affordable residential housing shall always be the prime concern for the government as well as for builders. The low-cost home loans and even lower GST rates will have a positive impact on youngsters ready to buy their first homes.

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