The cascading effects of demonetization, changes in the real estate laws, and the ensuing Goods & Services Tax (GST) based economic reforms have left quite a mark on the real estate scenario in India. The trends that had dominated 2017 are making their impacts felt in the first quarter of 2018 as well. The direction in which India’s real estate market is moving can be best rated as positive and upbeat, thereby fueling further development in this sector in the coming months of the year. Here are the major trends that will in all probability impact 2018 in a large way.
Though there was a decline in the overall figures of home sales in 2017, the demand seemed to be skewed in the direction of affordable housing in Chennai, Bengaluru, Ahmedabad, Gurgaon, Mumbai, Kolkata, Pune, Hyderabad and other major cities and towns of India. The going seems to be stronger in 2018; for instance, projects near Manyata Tech Park are making heads turn for real estate mongers in Bengaluru, and how!
In the same vein, makers of residential apartments in Bangaloreare looking towards tweaking the size of their apartments and housing units in order to make their products get within the reach of different genres of homebuyers. This trend is influencing the real estate markets in other places where positive changes are being made in terms of size and budget of apartments, villas, etc. without making any major compromises in terms of configuration.
Deciding Factors: Quality of Life and Livability
Apartments in Hebbal and those located in other parts of Bengaluru are upping their stakes with regards to amenities and the factors influencing livability. Given this trend, it makes good sense to invest in the properties on offer by Arvind SmartSpaces, reputed real estate development company that has won the “Excellence in Upgrading Lifestyle Standards” award organized by MyFM at Ahmedabadon 19th August 2017.
The real estate journey continues in 2018.