Indian Real Estate 2018 – A Brief Lookback

2018 has been a memorable ride for the real estate sector. The advent of RERA, the economic uprising and many more factors have contributed to the growth of the sector, let us have a look at them
Affordable Housing became a reality
The Government of India made some significant changes in its economic view towards real estate by allocating Rs. 8 billion for the affordable housing scheme.
The Rera Effect
On the emergence of RERA, many fraudulent real estate companies vanished thereby ensuring the established and authentic companies to stand tall. RERA was a bliss for the customers by bringing more confidence and trust towards the real estate sector.
Lower Interest Rates
The availability of liquid assets in the banking system has driven the Reserve Bank of India to reduce the lending rates. The result of such is the lowering of home loan rates to 8.3% *onwards. EMI’s have become flexible thereby enabling the homebuyers to take advantage of affordable housing finance.
The urbanisation of Tier 2 cities
Better connectivity, thanks to the government, has led to the expansion of the city limits thereby urbanizing the tier 2 cities into a fully fledged tier 1 models. This has given a necessary boom in the real estate sectors of the respective cities.
A brighter 2019
The higher rate of inventories, higher supply combined with the best industry practices has led to higher customer demand in real estate. 2019 is a year the real estate tycoons are betting big on.To sum it up, the Indian Real Estate sector is on the climb towards its golden period.
(*-Representative purpose only, actual rates may vary)

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