How an ‘Economic Trigger’ can Bring Fast Recovery in Real Estate :
It is a fact that the Indian real estate is going through a tough time, however as expressed by real estate experts, things can improve sharply with the help of an economic trigger.
Whether it is an interest rate cut announcement by the banking sector, improved GDP numbers or even stock market gains – these are some of the triggers that can catapult the growth in real estate sector within India.
There is great expectation from the real estate segment, but sales will happen only when uncertainty is completely over in the minds of home buyers and the above triggers can play a critical role in crealing off the uncertainty.
As per the present scenario, sales are happening mostly at the pre-launch stage — when prices are lower, of new projects. When the project is officially launched, the response is a bit on the lower side as of now.
And additionally, today there are people who are buying house to live in and can afford finished properties, several at a healthy discount from investors who are quite desperate for an exit and need cash in hand. On the other hand, this can sharply change when the market starts to revive which is likely to be soon on the cards.
However, to ward off incurring losses and clear inventory, builders, especially in areas where the pain is greater (Noida, Greater Noida, Gurgaon, Navi Mumbai and Thane), are offering attractive schemes on existing projects and this is helping customers gain big for their investments in terms of creating bigger value.