Notable Signs Of Improvement In Property Market

by GoelGanga Developments Real estate

After a substantial break, there are signs of growth and development in the Indian real estate market. During the time period of January- March almost 56,146 units were sold out in 9 major cities across the country. These figures are comparatively 5 % higher than the last year's record during the same time period. A report was presented by a real estate research and analytics company, PropEquity. According to their report, this speedy growth in the sale of homes is a result of an increased supply of ready-made houses.

In a recent research, metro cities like Kolkata, Gurugram, and Hyderabad witnessed a huge fall in the sales of property. Whereas Pune went through a recorded 32% hike in selling houses ready-made homes and flats. Apparently, it is the highest recorded growth rate in the real estate industry. Annuj Goel, Director Goel Ganga Developments, said that the suggested reduction in GST and revised repo rates which were issued under the guidelines by RBI will further accelerate Pune’s property market. He further says that the April-June quarter is expecting a great hike in this segment.

As per the positive aspects of this industry, Pune is going to witness a huge rise. In the expert views, the present situation of the Indian real estate market reveals a big change in the market. Nowadays, Pune real estate is not limited to big investors; it is drawing the attention of the buyers who are actually interested in buying a property. The consumers are giving first priority to the ready to buy houses in comparison to buying land or investing in the semi-constructed houses. According to Annuj Goel ready to move in homes are the need and necessity of today’s modern families. It saves time and money in the long run and also involves lesser risks

Annuj Goel, Director, Goel Ganga Developments also mentioned that the GST benefits will be limited to the builders whose track record is good, the financial condition is strong and the debt burden is considerably low. It will gradually affect their performance and bring better profits.