For the real estate, it seems the government message is that if you wish to revive than learn to survive on your own. Unfortunately, in a market loaded with housing inventory, added with the liquidity crunch, the over-supply could only be absorbed with the revival in demand. There has been no announcement as to how the government would ease the stuck up projects after its initial stressed funds.
Balvinder Kumar, member of the UP RERA is no stranger to the functioning of the real estate and the government agencies. As a former bureaucrat, he has seen it as an insider with many key positions, including his stint with the high profile Delhi Development Authority (DDA). In an exclusive interview with Ravi Sinha, he shares his roadmap for making RERA an ideal platform for due diligence as well.
2020 hardly promises to be the #BestYearEver for the Indian real estate, simply because the sector has historically been arrogant to read the writing on the wall. They continue to live with their fancy illusion that this is just another cyclic slowdown. The raw statistics of ever increasing migration to the cities and the housing demand make them predict for self-belief that sooner than later the market will yet again turn out to be sellers’ market.
According to the World Bank, India ranks at 63rd among 190 countries, and the ranking is anticipated to improve further in the coming years backed by progressive government policies. Meanwhile, the real estate sector has shown remarkable resilience despite the bearish phase of the economy. Below is a lowdown of how the real estate story unfolded in 2019:
Track2Realty picks up Investment Magnet Cities of India through a comprehensive pan-India survey. The idea is to identify the top real estate destinations for the home buyers in the country.
Beyond inventory statistics, and the customary positive outlook for the year ahead, 2019 has yet again underlined the need to read the pulse of the market dispassionately to learn why the tide has been going against. The lessons are equally true for both the builders and the buyers. Unfortunately, the sector does not seem to learn the lessons yet again. The testimony of the developers’ defiance is their guarded optimism for the year ahead, while dismissing the 2019 as yet another challenging year that has gone by.
Track2Realty pan-India survey invites mall visitors across 20 cities to pick their choices for the top malls.
The festive season has traditionally been an active period for real estate sales as many buyers consider Navratri and Diwali an auspicious time to buy property. Like in previous years, developers this year have sweetened property deals – some up-front discounts, or more commonly 0% GST (which is in any case not charged on ready-to-move properties), waived stamp duty and registration charges, free reserved car parking, modular kitchens, etc.
Maxima is a boutique development consisting of a single tower up to 36 storeys. The project is RERA registered and the construction is going on in full swing. Maxima is strategically located at JVLR, Andheri East and offers excellent connectivity to prominent business districts across western & eastern suburbs, airports, the upcoming metro line and social infrastructure around.
Given the dynamic civic and social infrastructure in the area, the project lies in close proximity to posh localities- Versova, Lokhandwala and Juhu. The project is located between the two major connectivity nodes of New link Road and Veera Desai Road. Some of the major connectivity and infrastructure projects announced like the upcoming metro lines add considerable leverage to the acquisition. The project has easy access and direct connectivity to most of the Mumbai via road and metro.