Real estate sector is gradually ascending from the abyss of recession it was thrown for years through the increased consumer activity. Even when the main trauma of recession had happened in 2008, its cascading effect has lead to severe breakdown of Indian economy till 2013. The economy sunk below 5% mark in this period, which is the lowest of the growth rates recorded in the past decade. Finally, real estate sector is shaping up towards achieving its prevailed glory with increasing consumer and investor sentiment. After suffering the slaughter for considerable years, the Indian economy has successfully gained stability and the real estate sector has also gradually begun to chew the rhythm.
We have seen a lot of events in the past year and the ongoing year which are quite affirmatively proving the revival of the consumer interest in real estate sector. The developers have thrown competitive projects with prices well zoned in the comfort levels, garnished with more freebies and discounts. The property rates have also bottomed up to attractive levels. The rupee is level playing fairly with other global currencies, banks have moderated the mortgage interests and inflation is maintained, which has given more flexibility to the purchase parity power of consumers. This has brought back investors and end users to the real estate sector and reaps equal benefits.
With the lavishness in the spending power, consumers enabled to raise the bar of affordability quotient. After analyzing the favourable tide in the market, developers have also more dedicated in completing the projects, than engaging with multiple projects at a time. Due to the slowdown, the prices are also prevailing much better for investors. Investors also felt it right as the developers also brought favourable payment plans for suiting the investor need. When laws with sharp and effective clauses are also enacted to safeguard the consumer interests and to curb the malpractices in the sector, there is no surprise that investors have finally nodded a go for real estate sector.