Jalandhar: Year 2017 is good for establishing the basis of the real estate market. Several important changes and initiatives have been observed during the year. Such as the enforcement of regulatory regulation law, which gives the industry the necessary structure and arrangement. Then GST Has been implemented which is the biggest tax reform in the country so far, and due to which there are big changes in taxation system at different levels.
This round of reforms and new arrangements has the potential to improve the property market picture for next 3 to 5 years. It also means 2018 is a good time , which will be good for purchasing property. As the regulatory system will be arranged under Rera in different states, all those who work in the real estate will be encouraged to work related to it and to get it done correctly. In such a scenario, some things related to the real estate sector are clearly visible, which will benefit both customers and property developers.
Projects will be completed on time: We will see that many developers will make every possible effort to complete their launch projects within the deadline, because if they do not, they will have to pay a heavy penalty. There is a possibility that more options will be available in ready-made stocks in the market as more projects are completed this year.
Affordable housing will remain in demand: Many top real estate developers in the country’s metros are gearing up for launching affordable housing projects. It is important to take this opportunity to take advantage of the Pradhan Mantri Awas Yojana, which buys flat in these projects. Going forward, we will be able to see new launches and the developers will be able to sell the sale of unsold properties. There will be more buyers to buy houses in projects that are close to being ready or ready for much demand. This is because the demand for such houses will increase in the case of those who buy their accommodation.
Benefit from RERA: RERA and G.TST. Reforms and arrangements for the real estate market are needed to be understood. Buyers will also be interested in purchasing under the RERA and the distributors will also be forced to deliver on time. Even during the year 2018, the real estate market may remain at the same level as last year. In this case, this year property can be considered suitable for purchase. Ready and re-sell property prices may have some realization. There will be more number of housing this year. These new projects are expected to be competitive and customer friendly. It can be said that the prices are not likely to increase in this year.
Bridle on black money: The policy of linking Aadhaar numbers with properties will have a positive effect on the government’s efforts to deal with black money in real estate. Due to black money, mostly in the real estate, most of the demand was kept by the investors. Due to many such initiatives, the number of people who bought the property for themselves will increase. This will also bring stability to the level of prices.