Wednesday, 5 November 2014

Revival Of Real Estate Market – Understanding The Reasons And The Scope For The Same

The real estate sector in India, which had been on a downward spiral for the past several months, has gained new hopes of growth and expansion. This significant change has been brought forth by the establishment of a stable government at the center as well as the new PM’s stress on enhancing infrastructure development across the nation.  In fact in the last few months, the industry has actually seen a significant rise in sales which is being considered by many experts as an indication of a better future for this sector.   

Reasons Behind The Change
Even though a large percentage of property developers and brokers are surprised at the sudden positive change in the mindset of home buyers, many people feel that this was to be expected because of the below mentioned reasons.

  • Unlike the previous government, the current administration is headed by a strong willed PM who is renowned for his futuristic views and growth oriented policies.
  • The people in general have regained their sense of job security primarily due to government’s promise of developing policies focusing on ensuring a fast economical growth and creation of greater and better job opportunities.
  • Despite the growth oriented policies the prices of properties are expected to come down because of the focus of government on eliminating the influx of black money in this sector, which has been a major cause for price rise.
  • The public in general and the home buyers in particular believe that the era of indecision and the wrong policies of the government is over and hence they feel safe about investing in projects that were earlier brought to a standstill.
  • The general positive attitude and promise of a growth oriented and transparent governance and easy to approach administration has revived the confidence of home buyers in the real estate sector.

The Future Scope Of Real Estate
With the real estate needs in India lacking behind in a considerable manner, it would not be wrong to suggest that the scope and future of this industry is really bright. The positive trend that has just begun in this sector is expected to grow further and contribute significantly towards making the real estate industry a primary contributor in the economic growth and development of this vast nation. Most importantly, the encouragement and support being offered by the current government, in terms of devising better policies, ensuring greater transparency in property deals and transactions or even the efforts being made to free this sector from the clutches of land mafia are going to further inspire people to invest in this sector.