Buying a home is in everyone’s wishlist and this investment involves financial planning and strategy. If you are planning to buy a property in the year 2016 ensure that that you make a smart choice and not a hurried one.
Indian real estate sector has been sluggish for a few years but is expected to make a turnaround in 2016. Experts believe that the sector is expected to record increase in sales and a reduction in unsold inventories. They believe the government initiatives announced this year will give a push to the sector and reinstate investor confidence.
Sanjay Dutt, managing director, Cushman & Wakefield said,” Overall, the next few years would see forging of some strategic partnerships with select developers, private equity investors also looking at liquidating assets. Consolidation through joint development activities would unlock development potential in major cities, going ahead.”
Real estate experts believe that government’s promotion of 100 Smart Cities, AMRUT (Atal Mission for Rejuvenation and Urban Transformation), Housing for All by 2022 and infrastructure development are some of the government steps that would not only benefit the economy, but would also create a sector-wise
“The government’s easing of FDI policy, the probable implementation of the Real Estate Bill and Smart Cities, and the introduction of REITs(real estate investment
trust) would bring in the much-required transparency into the sector and enhance investor confidence in the coming years. The year 2016 is likely to begin on a
cheerful note on the back of reforms and increased investor confidence,” Dutt added.
The RBI has cut rates by 125 basis points in 2015 and both the developers and buyers expect to see the transmission of these lower rates to consumers in 2016.
If you are planning to invest in real estate in the new year then the buyer should keep in mind certain points as the market has multiple choices to offer.
“It is important for a buyer to get a detailed information on the shortlisted projects including the builder type, locality, to name a few. As a buyer you must not get
lured by freebies and discounts that are being offered all around and rather check all the legal documents thoroughly and carefully. Buyers must get all the documents thoroughly verified by a professional,” CommonFloor Groups, co-founder and head Vikas Malpani said.