The Indian real estate market has evolved into a ‘buyers paradise’* - Should you enjoy a bite of it?
Oct 30, 2018
Even as the Indian real estate industry is undergoing new shifts, many new and exciting factors such as moderate home loan rates and discounted prices have piqued the interest of home buyers. A millennial who prefers to own a home rather than rent one may find a compact 2BHK a great option to go for. A professional may like to zero-in on locations close to their workplace. All in all, it’s a good time to buy a own home. A recent report spells out how the real estate industry is undergoing a paradigm shift.
At a time when “Achhe Din” seems to be the resounding slogan for reformation, the realty sector is shining as well. With the implementation of policies like RERA, GST, Real Estate Investment Trusts (REITs), the Benami Transactions (Prohibition) Amendment Act, 2016 and the Pradhan Mantri Awas Yojana (PMAY), a regulatory environment is making it increasingly safe for the buyers to invest their hard-earned money.
In fact, the report states that as many as 81% of polled aspiring homebuyers acknowledge Indian real estate's improved and improving transparency, discipline and accountability post implementation of regulatory. A refreshing change, indeed!
While 51% homebuyers seek rental income, 39% now prefer affordable housing priced below 40 Lakh. Other interesting figures emerge in the survey – 68% of buyers seek property for end-use.
What’s more? With the festive season in the air, developers are adding lots of attractive offers to further enhance the home-buying experience.
These numbers and trends surely ignite some exciting possibilities and it will be fun to see what the future brings. Meanwhile it can be safely said that the serious home buyer who was once playing safe, and was waiting for the right time, is now ready to take the plunge.
*Real Estate Consumer Outlook – H2 2018 Report