Searching for a home and calling it his/her
own is what every potential home buyer dreams about. We all know that home is a
place where you stay and make cherished memories. It is the place where you
shelter your love and embrace your emotions. A home is an emotion where every
corner is utilised and you always discover every single moment to cherish your
life. To make this amazing journey of life joyful and eventful, all you require
is a good home. However, before this,
you need to know about the present scenario of the real estate market and then
accordingly connect the best builder who will help you find the perfect home. Say,
for example, you are looking for an upcoming residential project in Kolkata. Then, in that case,
you need to collect information about the present development of the real
estate market and move forward accordingly.
Real Estate 2019 Prediction
The prediction since last year about the
2019 real estate scenario highlights the demand for both mid-segment and
affordable housing. It has been predicted that it will be one of the biggest
growth in the real estate sector. Some have a notion that the luxury market
might get back again while others think that the infrastructure may get a
strong focus.
With the end of 2018, a lot of assumptions were
made based on the scenario of the real estate sector. According to the property consultants, the
last 2 quarters of the financial year (FY 18-19) has seen robust demand for
real estate investment, especially the mid-segment or affordable housing
projects. Of course, the luxury projects were in demand as well, but going
forward, the affordable units will drive sales over other categories. It has been
predicted that this similar trend will be seen in the New Year as well.
Know What Consultants and Sources Say
As expected by the consultants and
developers there might be somewhat subdued sales in the first part of 2019,
because of the liquidity crisis and upcoming elections. There will be
government intervention and also a suggestion to deduct the GST rate on the
under-construction flats, which will lead in spurring the sale growth in the
second half. In fact, the Nation President of CREDAI, Jaxay Shah stated that
there might be a period of continuous growth in the Indian real estate sector.
According to different sources, the
pan-India average property prices saw approximately 1-2 % rise across the 7
major cities (Kolkata, Delhi-NCR, Bengaluru, Mumbai, Hyderabad, Chennai and
Pune). With the sales number rising in the last couple of years, especially
2018, there has been a definite improvement in the realty sector and more to
come in the current year (2019). As discussed above, the affordable housing
will continue to be amongst the biggest sales driver in 2019 as well, thus,
drawing developers’ interest.
Niranjan Hiranandani, the founder-chairman
of Hiranandani Group and President of National Real Estate Development Council stated
that in the coming three years, affordable housing will take a lead in the race
and shall maintain the same.
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