Robust Real Estate
Global economy has seen and is continuing to see a rapid and dynamic change. India is at the forefront of this change, but we also have a business-friendly Government. The last few years have been quite tumultuous and path breaking in many ways. The politics of change, GST, and demonetization have created a huge impact.
The real estate industry, by some estimates, had a noticeable and stark setback in the year 2017. Well, Macro-economic policies have their force, and the construction industry is not immune either. It should be noted here that India is still in a development oriented phase. The metros, state capitals, and tier II cities are alive and abuzz with hectic business activity.
Challenges, Expectations, Trends
As we know, India’s real estate market has four key diversification-residential, commercial, industrial, and land. Unfortunately, A perception of large scale corruption in the nation’s construction industry has gained limelight. However, this did not stop the foreign investors from betting high on the commercial property’s market scene. The game changing policy initiatives did not affect the Southern market too much. Bangalore, Hyderabad, Goa, Chennai, etc., have seen steady activity in realty. Investors and customers are slowly, but surely, making new enquiries and bookings. Industry watchers hope that Government shows greater support for capital infusion. Speedy land clearances and building approvals are also expected to receive a thrust. The Union Government’s “Housing for All” scheme can boost large scale construction. The next generation is educated, entrepreneurial and it is very keen on office space. Small scale businesses, and start ups are expected to create working space demands. The desire for smart homes, energy efficiency, and trendy lifestyles is also very high. To sum it all up, India is on the threshold of a sweeping transformation. The youth are daring to go, and achieve greater heights through productive work. The global and local corporate are enthusiastic and optimistic. The robust real estate market has a golden chance to seize the moment. Be innovative, create opportunities, and build a strong nation.