Indian Real Estate Outlook by Ruparel Realty
Indian real estate sector is expecting better growth in 2018 and the majority of gains could be witnessed in organized real estate segment. Many Indian real estate developers are working on affordable housing projects. Over the last few years, inventory levels have remained high in fast-growing Indian cities.
In 2018, real estate experts are expecting better demand for affordable housing and medium cost housing in developing cities. The bank interest rates have declined and home buyers can now buy with confidence as real estate developers will be following RERA regulations.
Mr.Amit Ruparel, Managing Director, Ruparel realty said, “While 2017 was the year of consolidation, the sector’s growth prospects for 2018 seem to be brighter, as the impact of RERA and GST would continue to unfold in 2018. With the overall affordable housing segment receiving an industry status in the budget and support from the union government under the newly introduced regulation in the Pradhan Mantri Awas Yojana, the sector will witness a steady demand in the coming year. Moreover, from the investor’s perspective, affordable apartments are easier and more profitable to sell or even to put on rent, assuring decent return of investment."
Mr. Ruparel added, "Developers look forward to better business opportunities in 2018, confidence amongst home buyers and investors is expected to increase considerably with the introduction of Real Estate Regulation Act (RERA) and the Goods and Services Tax (GST). Overall, 2018 will witness gradual improvement in sales and a reduction in the number of unsold unit however the industry is expecting changes in GST as it is in the initial phase and requires important amendments like stamp duty to be included under GST and GST rate for cement to be lowered. Additionally, With Honorable Pradhan Mantri's massive focus on affordable housing, this segment will thereby experience the biggest boost in 2018. It is certain that the growth we see from hereon will be sustainable and backed by stronger market fundamentals than ever before."