In a country like India where the cities are expanding their horizon with every passing day it becomes all important to house the alarmingly increasing population. This phenomena has impacted the growth of Real Estate Industry significantly over the course of last few years.
Though the industry has evolved substantially and has significantly managed to set standards, but still things were never better like today. This improvement may be attributed to recent shift on few high decibel government polices which are directly or indirectly influencing the industry. Whether it’s the implementation of RERA or the latest trending demonetization, both these polices will prove beneficial to the Real Estate market in the longer run, specially the primary market, where majority of project is bank funded.
Demonetization, mentioning this word here would have surely left you wondering that how this will help in the growth of real estate, the first thing is that the demonetization will result in more and more cash being deposited in the banks which will tend to lower the interest rate and thus will facilitate the buying of house, another important thing is that it will also provide government with ample money so that it can be used for the betterment of public infrastructure and one more important thing is that the people will be moving towards buying properties because buying a house seems a more profitable venture then availing a marginal 5-6 % interest rate for the bank deposits. This gets supplemented by discounts, deals and offers from builders.
A much talked out term in the Indian Real Estate circuit RERA is a much needed policy to restrict the malpractices in the Indian Real estate industry that has brought some sense of transparency and reliance in the mindset of the entire customer base looking to invest in it. Real Estate Regulatory Act has introduced some significant polices that has given more power to the consumer, which in turn would result in discipline & growth in this sector.