2015 was undoubtedly an eventful year for Indian real estate sector. If we are to state down this one by one, it will be really a long list which will impact us with a mixture of emotions. These events can’t be judged according to the potentials because each of them is significant on their own.
We witnessed a lot of regulatory changes in the real estate sector last year. The relaxing of Foreign Direct Investments (FDI) laws and the recent cabinet approval for the Real Estate Bill 2015 has boosted the real estate sector. Though there are mixed reactions from the experts on the new Bill, broadly everyone views it as positive to cater real estate issues.
Reserve Bank of India was also trending last year. Being one of the finest economists alive, RBI Chief Mr. Raghuram Rajan has enacted series of rate cuts last year, which can be estimated to cater the real estate sector well. The much anticipated Seventh Pay Commission report also was in favour for real estate in terms of increased demand and supply.
According to a newspaper report published recently, the investments into the real estate sector this year is at close to Rs 53,000 crore, which is poised to be seven year high even when the market is not in good shape. The BSE Real Estate Index plunged 16 percent on a year to date basis till December 18.
A top global real estate company estimates that an amount of Rs 18,700 crores had been invested by private equity players in real estate till end of September. Adding to that Rs 30,500 crore of NCD’s (Non convertible debentures) has been also invested till November and the tally is already up by 74 percent over last year’s Rs 17,600.
Evaluating from these statistics, real estate sector is inching for a good, solid start in the year 2016. Experts believe that the year 2016 will begin on a positive node by picking up more sales with an improvement in the number of unsold inventories. With prosperous year ahead for real estate arena, many real estate consultants will also gain significance in the coming days. Identify the right, credible real estate consultancies in your realty transactions and make the year a prosperous one.