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6 Expectations From The Indian Real Estate In 2019

By Admin Posted Feb 21, 2019 In Market trends and insights

2018 was a significant year for India’s real estate sector. It was the year when the market started to recover after a couple of years of slowdown, especially as an aftermath of regulatory reforms like the Real Estate Regulatory Authority (RERA) Act and the Goods and Services Tax (GST). Although these interventions have brought in a greater level of transparency and efficiency into the system, one could ascribe the initial liquidity crisis in the market to these reforms. 

There’s much that seems to be in store for the sector in 2019.

Here’s a look at some expected trends in India’s real estate sector this year.

1.     Spike in demand for housing:

The housing sector is all set to take centre-stage in 2019. The Housing For All by 2022 initiative has shifted the focus onto affordable housing, and the market will witness a spike in both the demand as well as the supply of housing units across the country.

2.     New-age workspaces:

India is moving towards an economy that encourages job creation, and the startup culture is on the rise. This will lead to a change in the landscape of commercial real estate in India, with hybrid co-working spaces replacing traditional office units.

3.     Greater investments through REITs and FDI:

2019 will also witness increased investments in real estate, especially through REITs and FDI. REITs can effectively address the problem of unoccupied inventory in India, while mobilizing returns and enabling investors to start small and diversify their investments. The advent of REITs and the relaxation of FDI policies will also attract more global investors.

4.     New wave of first-time buyers:

This year will also witness a new wave of first-time buyers who are the beneficiaries of India’s growing economy.

5.     Affordable housing takes centre-stage:

As a result of the Housing For All initiative by the Government of India, affordable housing will be given greater emphasis in 2019. In Q2 2018 alone, approximately 50,100 new housing units were launched across NCR, MMR, Chennai, Bengaluru, Pune, Kolkata and Hyderabad, a large number of which were affordable housing units.

6.     The rise of new markets:

The increase in the demand of new housing units has resulted in real estate developers exploring new markets in the country. This year will therefore witness significant real estate development in the Tier 2 and Tier 3 cities in India.

7.     All about transparency:

 Reforms like RERA, GST and the Benami Property Act, have introduced a new wave of transparency and accountability in the sector. With the advent of these reforms, real estate developers have revamped their business models, and we can expect to see many more projects that are compliant with the regulatory standards.

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Disclaimer

The plans, specifications, images and other details herein are only indicative and subject to approval of the concerned authorities. The Group / Owner reserves the right to change any or all of these in the interest of the development, without prior notice or obligation. Artist’s impressions are used to illustrate amenities, specifications, images and other details and these may be applicable to select apartments only. Tolerance of +/- 3% is possible in the unit areas on account of design and construction variances. All brands stated are subject to final decision of the project architect. This printed material does not constitute an offer and/or contract of any type between the Group / Owner and the recipient. No booking or allotment shall be deemed to have been made on the basis of this printed material. Any Purchaser / Lessee of this development shall be governed by the terms and conditions of the agreement for sale / lease entered into between the parties, and no details mentioned in this printed material shall in any way govern such transactions unless as may be otherwise expressly provided in the agreement for sale/lease by the Group / Owner. The Group / Owner does not warrant or assume any liability or responsibility for the accuracy or completeness of any information contained herein.