The achhe din has arrived for real estate in our country with the government calling FDI investments into many sectors and campaigns like Make In India which will attract foreign companies to India. The banks lowering their interest rates, RBI offering incentives for infrastructure financing and creation of REIT’s are some of the other major advents over the last year that has boomed real estate industry.
From this immediate past to the much awaited future, real estate sector holds much more in the store. The government has announced the development of 100 smart cities along with proclamations of seven heritage cities which substantiate the full fledged growth in every sector. This will bloom the realty sector to new heights.
The concept of husband as the soul bread earner of the family is no more. Nowadays both the partners should have income to meet the ends of the family. In the former, only the husband will relocate to urban cities, but with jobs for both husband and wife in the latter paves way to the relocation of entire family. This will hike the future residential market in real estate sector as it is now too.
Tourism has always been one of the key revenue of our country. We are known for our diverse cultures and with the proposals of heritage cities will mark ample growth for real estate sector. These include Varanasi, Mathura, Gaya, Ajmer, Amritsar, Kanchipuram and Velankanni. The real estate growth in the future will be primarily based on close vicinities of these heritage cities.
Despite any timely preference, the industrial corridors will always be one of key areas around which the real estate will flourish. These industrial corridors connect the innumerable hinterlands in India from which countless youngsters will come to the urban hood areas.
In one of major notes the future of real estate will witness a hike in affordable houses. This special category homes especially constructed for economically weaker section will witness a hike. This can be further proved by the proposal of Modi government in the budget which allotted a gigantic 4,000 crore for affordable housing. The apex bank RBI in their new norms has proposed variant home loans for affordable houses in both metropolitan cities and non metro cities.
Smart cities are going to be the new jargon of real estate sector. The proclamations of the much awaited 100 smart cities have triggered the buyers to relocate to the highly potential areas.
With the advent of new media, the both ends of the real estate are up to date. On one side we have the increasingly well informed buyer and one the other side, a developer who is well placed to accept fresh endeavors. It’s necessary for both sides have adequate knowledge of market trends to perform well as future perspectives of real estate looks bright with an ocean of opportunities!