The real estate sector in India has recently witnessed a significant transformation with the implementation of reforms such as RERA and GST. The years to come look promising for real estate in India, and here are the trends that are expected to reshape and redefine the sector:
1. Real estate developers are transforming their business models: Recently implemented reforms such as RERA, GST and the Benami Property Act have enforced a greater level of transparency, accountability and quality-on-time on the part of real estate developers. Projects are therefore much more reliable and meet the set standards.
2. Workspaces are evolving into ‘co-working’ spaces: With the fast evolving work culture in India, regular office spaces will give way to more hybrid co-working spaces. Corporates and co-working operators will now work in tandem, which in turn will benefit the real estate economy and also increase cost-efficiency, productivity and employee retention.
3. FDI into real estate will increase further: With the launch of the launch of REITs (Real Estate Investment Trusts) in 2017 and the enhanced transparency in real estate transactions, the real sector will attract even more global investors than before.
4. Affordable housing is witnessing a revival: By 2019, there is a target of building one crore new houses in rural India. The Housing For All agenda has been fixed for 2022, and affording housing in India is receiving the much-needed infrastructural attention in order to meet the set target.
5. REITs will enable significant growth: REITs are expected to add significantly to India’s growth story. As more and more office spaces in India become REIT-complaint, a variety of institutional and smaller investors will put in their money in return for regular dividends at relatively low risk.
With many significant transformations underway, now is the best time to invest in real estate in India. If you’re on the lookout for the finest residential projects in Dhanori Pune, explore Ganga Aria—a premium residential project by Goel Ganga Developments. Explore 1, 2 and 3 bhk residential apartments in Dhanori Pune at Ganga Aria.