The beauty of the world of real estate is that it’s ever-changing. Year upon year, newer trends, policies and acts keep the industry on its toes. Needless to say, homebuyers and property investors always have something or the other to look out for.
2017, in particular, has been quite eventful for the real estate industry. With a new budget, the implementation of GST and the advent of RERA, developers have become warier of their projects, whereas, homebuyers have become more assured of their purchases. This has, in turn, increased the demand for properties and a new-found ease in acquiring home loans.
The current setting for the industry can be broken down into the following three segments:
A makeover in business models
As mentioned before, the advent of the Real Estate Regulations Act (RERA) 2017 and the implementation of Goods and Services Tax (GST) has made developers reassess their business models in accordance with new governmental policies. Now, developers are liable to pay compensation in case of delay, bring more transparent services into play, and assure timely delivery to their customers.
On the other hand, GST is on its way to bring down the cost to companies with reduced manpower and time. Given these changes, developers are now forced to be transparent and accountable for their actions, thereby, increasing consumer confidence in the industry.
More affordable housing
Did you know, according to a report by Economic Times, over 1 crore houses are to be built in rural India by 2019? With easy home loans, banking institutions are urging more and more people to make property purchases. Tier-II and Tier-III cities are on the verge of getting a massive infrastructural overhaul, thereby, making the government’s “Housing for all by 2022” a much more attainable dream.
Approval for the Real Estate Investment Trust (REIT)
By allowing all kinds of investors to invest in the Indian real estate market, The Securities and Exchange Board of India (SEBI) has recently opened doors for an opportunity worth Rs. 1.25 trillion (US$) in the Indian market. This has paved the road to further expansion for Indian real estate developers to accept bigger challenges. Now, developers are meeting the growing need for managing multiple projects across cities and investing in centralized processes to source material and organize manpower accordingly.
With an aim to always keep in sync with the latest real estate trends, Goyal Properties in Pune diligently works towards a better tomorrow for its customers through its various esteemed projects in the city. The above-mentioned scenarios translate into a brighter future for Indian real estate, and so, if you’re a homebuyer looking for a 1 BHK flat in Talegaon Dabhade, look no further than homes by Goyal Properties. A magnanimous blend of smart features and ideal locations, the homes make for a once-in-a-lifetime opportunity for investment in real estate.