Post-Demonetisation, the financial year of 2017 witnessed many significant and emerging trends in Real Estate. While the effect of Demonetisation was majorly seen on Indian Economy but, it also affected the sector of Indian Real Estate. Some of the top three emerging trends seen in the sector of Indian Real Estate are listed below. This trends also had a significant impact on buying a property in Navi Mumbai and a major part of big metros like Mumbai, Chennai and etc.
The flow of Global Capital will expand further in our Indian Real Estate.
According to the report generated by United Nations Conference, our nation is at the fourth position in developing Asia for FDI. Also, the report analysis of Notable commercial real estate company JJL in their bi-annual Global Real Estate Transparency Index of 2016 showed the ranking of Tier-1 cities (Mumbai, Chennai, Kolkata and New Delhi) at 36th position. Also, it is expected that the launching of REITs (Real Estate Investment Trusts) will have a greater impact on future of Indian Real Estate in this year.
Popular and Reputed Developers and Builders will rebuild their business models.
The important changes made in the Real Estate Regulation & Development Act (RERA) will regulate and impose new laws and regulations for the popular and reputed builders and developers. Also, the recently newly introduced of Service Tax Bill by Government of India called Goods and Service Tax(GST) in the month of July and also the Benami Property Act will have crucial effect for the builders in running their business strategies. Big players in the Indian real estate like Tata, Godrej, L&T, Bharti, Mahindra, etc., will come up with more projects.
Important Policies and Measures to be implemented for the success of the initiative of the Affordable housing.
As declared and conveyed by our honorable Prime Minister the idea of Affordable housing in India is set to have a smooth start in the year of 2017. It is also, estimated that around one crore homes are to be constructed in rural areas of India by the year of 2019.This will prove to be a very beneficial factor for the citizens of India and help in the growth and development of our nation.
In accordance with the above-mentioned trends in Real Estate, we at Mass Realty Solutions LLP provide expert advice and skilled assistance for both individuals and companies in purchasing and selling properties.
We are one of the best property consultants and best real estate agents in Mumbai, Navi Mumbai, Thane and neighbouring areas for all your real estate related queries and specific property search needs.