Data on Real estate numbers and stats for the year 2016–2017 and expected trends
The economy of every nation rests on a bunch of weak shoulders that have a mandate to lean on each other to remain standing. Changes in costs of financing, loan interests, Foreign exchange, demonetisation and even something as unrelated as the property rates in another country can have drastic impacts on the economy. A proof of it is the impact that banning of 500 and 1000 rupee notes had on the Indian real estate prices and trends.
Despite all such issues, Forbes magazine contributors continue to hail India as a destination for real estate in 2017. With the 7.0% projected growth for the year 2016, similar trends are expected to be observed. As the fastest growing major economy, India is an attractive destination for real estate investments. India owes a major chunk of its economic growth to the middle class and its growing expectations and lifestyle needs. However, as 500 rupee notes have been changed and 1000 rupee notes have lost their validity as legal tender, a sudden dip has been seen in the transactions in real estate. People with unaccounted wealth are unable to buy property right now and transactions in cash have become redundant.
All the above factors have made real estate a lesser appealing investment option than it used to be in the past. India, due to political announcements and the responses of major builders to them, has gone all in when it comes to affordable housing. Also, despite FDI to real estate having been increased, the options for not Indians to invest in real estate in India have been restricted effectively. For instant, for anyone to buy residential property in India, they have to be Indian nationals or be residing in the country for 183 days out of 365. Also, an individual buyer cannot set up office in the country.
The time between announcements of projects till their completion has increased considerably. At the same time, the time between completions and selling out of projects has increased too due to the cash crunch. Due to such trends, the real estate market in the country seems to have slowed down and the investment in the sector has gone low too. One may blame it on demonetisation or Black money handling, but either way the economy will slow down due to this one area too because, as discussed before, every economic pillar is highly reliant on the others to keep a country running.
In this time of cash shortage, GM Infinite continues to bring great apartments for the working class. As predicted, the growth of real estate can be seen in this one as they bring affordable residential options to all socio-economic sections of the society.