There is much that has changed in the world of real estate over the last one year. With recently implemented economic reforms like the Goods and Services Tax (GST) and the Real Estate Regulatory Authority (RERA) Act, a new level of transparency and efficiency has been introduced into the sector.
Here are the top 5 trends that you will see in Indian real estate in 2018:
1. Overhauled real estate business models:Real estate developers in India are completely transforming their business models. With the implementation of RERA, GST and the Benami Property Act, a greater level of transparency, accountability and quality-on-time has been enforced. Projects will therefore be much more reliable and will meet the prescribed quality standards.
2. The rise of co-working spaces: The work culture in India is fast evolving and hybrid co-working spaces are replacing traditional offices. 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. The growth of FDI in real estate: 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 is expected to attract a large number of global investors this year onwards.
4. The revival of affordable housing: This will be the year of greater attention directed towards affordable housing. There is a target of building one crore new houses in rural India by 2019. The Housing For All agenda has been set for 2022, and affording housing in India is receiving the much-needed infrastructural attention in order to meet the target.
5. Significant growth through REITs: 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 the many transformations in tow, now is the best time to invest in real estate in India. Goel Ganga Developments, the leading real estate builders and developers in Pune, present a wide range of residential and commercial projects. Explore the many offers by Goel Ganga Developments, the pioneering residentialand commercial property developers in Pune.