2018 saw a monetary revival and the real estate market saw a gradual alleviation. To support affordable housing, the government have laid various reforms which definitely accelerated demand. Schemes such as increasing carpet area of residential units for interest subsidy under Credit Linked Subsidy Scheme (CLSS), opening up of No Development Zones (NDZ) and salt pans, etc. are strengthening the overall industry as well as drawing buyers to the decision making. Initially home buyers were skeptical regarding investment due to physical cash crunch especially at the beginning of the year. However, the market turned more positive just as the year progressed owing to various favorable policies in good turn for homebuyers who were fence-sitters.
With many domestic and foreign investors eyeing the real estate market, we expect more positive trends like investments by global investors, revamping of business models, market consolidation which will wash out all the bad elements from the real estate sector and create more trust & transparency in the industry, thus reviving the real estate market.
Source : Realty - The Economic Times