With developers looking to offload their inventory and offering various incentives, can home buyers expect a good deal in 2019? We examine the scenario across different segments in Indian real estate
The Indian real estate sector has witnessed several positive developments over the past few years, with schemes like the Pradhan Mantri Awas Yojana (PMAY), the granting of infrastructure status to affordable housing, 100 per cent tax exemption on the profits for developers building affordable homes, implementation of the Real Estate (Regulation and Development) Act, 2016 (RERA) and the subsidy schemes for first-time buyers of residential properties. The push towards infrastructure development also makes it an ideal time to invest in real estate, as the prices in a locality often increase, after the completion of an infrastructure project in its vicinity.
Mumbai’s recent development plan, for example, will enhance the infrastructure in the city, points out Mr. Amit Ruparel, Managing Director, Ruparel Realty. “The increasing number of metro lines, are closing the gap between distant places. The construction of more highways and other infrastructural development, will facilitate real estate industry, as well. Owing to the prolonged sluggishness in the industry, property prices have gone down significantly. Hence, home buyers should certainly take advantage of the situation,” Ruparel says.
Source : Housing News