If we look at the economy, it seems to be a tricky year, but consistent with top real estate builders in Chennai, 2020 will see the most traction for the real estate sector and only the financially stronger players will stay ahead within the sport. Amidst all this, the common man’s query is – Is it safe to step into real estate?
In the opinion of top real estate builders in Chennai, property investment in the present time needs a special strategic approach than purchasing a property for personal use. Once you choose property as an investment strategy, you buy property to make a profit out of it. In most cases, the investor rents out the property or resells it at a better cost. Keeping both sorts of interests in mind, here is an analytical detail of the important estate market, which can help you clarify the doubts.
Impacts of the Real-Estate Reforms of 2017 consistent with top real estate builders in Chennai
Real estate is one of the main contributors to India’s GDP and has grown to Rs 12,000 crore (US$ 1.72 billion) in 2019. The three major reforms – the introduction of GST, the launch of RERA and the grant of infrastructure status to affordable housing properties – have had a huge and positive impact on the industry. The government’s vision of “Housing for All by 2022,” and therefore the grant of infrastructure status to compact, affordable residential homes saw a rise in the demand for low-cost homes according to top real estate builders in Chennai.
The RERA (Real Estate Regulation Act) was introduced in 2016 to bring uniformity within the land market and to safeguard the interests of buyers from the malpractices of unfair builders. Today, the results of the RERA are often seen – it has increased transparency in real-estate deals, improved accountability of builders, which successively has led to increased demand from buyers.
The GST was introduced in 2017 with the ideology, “One Nation, One Tax.” While there are some initial teething troubles, today the impact of GST remains largely positive. GST has made it easy to do business within the country, seeing a marked increase in infrastructure developments and other property projects like CMDA approved plots in OMR.
These three factors have had a cumulative effect on the real estate industry in India and drive the increase in demand for real-estate investments.
Real Estate Investment in India Has Tremendous Potential for Appreciation
Is land investment good? For ages, the land has always been characterized by an appreciation of the value of the property. And more so in recent times, with more and more international companies investing in India, property value has appreciated faster than ever. in the POST-COVID-19 scenario, with international investors looking to shift their investment from China to India, it’s all the more advantageous for land investors in India. There’ll be more jobs, more influx to numerous cities, and more people eager to buy homes as they move to new cities and new 2 bhk flats in Valasaravakkam. As such, with increasing demand, the costs of property will go up.
Even if you invest in a seemingly lower value property on the outskirts or within the suburbs, it can become a gold mine within the future with the appreciated property values! you’ll find suitable options whether it’s land for beginners or land for entrepreneurs.