When will real estate in India Revive Again Real estate in India has been unstable for the past 14years. Although the industry experienced a boom between 2003 and 2008. This boom brought the increase of prices on real estate, which almost doubled its previous price. Two years later, there was a global economic crash, and then after, prices of real estate kept increasing. Gradually, sales dropped and prices remained flat. The reason for this slow growth was because the real estate prices became outrageous for an average Indian citizen to possess. Recently the need for ownership of apartment has been increasing and prices are more moderate, many more real estate’s projects are being carried out such as residential apartments in Bangalore.
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Why India Real Estate May Revive soon Affordable Housing This year, more affordable houses are available; the government of Indian has made it better by allocating Rs. 8 billion for affordable housing. This has boosted the real estate sector this year. Strengthening the Real Estate Sector There have been speculations that the real estate sector will undergo a change in 2018, this change will decrease the number of developers in the sector, and only the strong will remain. Smaller promoters who don’t meet up with the Real Estate Regulatory Authority (RERA) norms eventually consolidate with bigger developers. This will make the sector more genuine and safer from fraudsters.