Real Estate Market 2019
Metro Group | 21st May, 2019
Real estate is a tricky division. So before you plan to buy a residential property like a 2 BHK flat in Chembur or anywhere else in Mumbai, this year, have a look at the 2019 trends in the real estate market.
The Rise in Housing Demand
As compared to the previous years, housing demand in the country is going to be quite high in the coming days. With an ever-growing population, urbanization, rise of nuclear families, increased disposable incomes, and monetary benefits – the demand in housing has increased drastically.
Developers Will Revamp the Business Model
Due to the RERA policy, there will be more transparency and accountability into the system. It will also result in boosting end users confidence. The GST will also have a resilient impact on how developers run their business. Moreover, globalization and modernization have forced developers to offer an attractive destination to both global and Indian investors. Observing at this trend, the anticipations from private equity is high in the coming years and it is projected that 2019 will be even bigger years for FDI investments in India.
Effective Housing Loan
The government announced the Credit-Linked Subsidy Scheme (CLSS) lately, thereby making loans available at much affordable rates. This scheme aims to benefit both the buyers and the developers in the come years. Under this scheme, interest subsidy is credited upfront to the loan account of recipients through lending institutions resulting in reduced effective housing loan and equated monthly instalments.
As developers have responded well to GST and RERA, they will definitely try not to pass on any extra cost burden to the end user. Today’s market is very much steady for home buyers. Choices are accessible, making it a good time to capitalize on a house.
The main point of difference here is that these affordable homes will be more spacious and luxurious in order to meet the modern day demands of comfort and convenience. So if you planning to buy a 3 BHK flat in Chembur or a bigger 4 BHK flat in Mumbai – you are sure to earn some benefits in the recent years.
Rise in Commercial Projects Due to Co-Working Culture
In the olden days, offices were just about the desk and chair. However, today, workspaces emphasis on saving time and money with shared office spaces. By creating a community and culture of working better together – modern offices aim to have a co-operative professional environment.
Today start-ups prefer these flexible working spaces at affordable rates. And companies that have limited space requisite are now leasing out their office space and giving rise to hybrid spaces. This trend will continue throughout the year and will give rise to more such commercial projects.
Lately, developers and buyers both have elevated their game; buyers have become bolder with more transparency and prospects in the market and the developers have observed a more suave and regulatory business process. And with years passing by, we assume to see a lot more changes in the real estate market.
Metro Group India is one such real estate developer to offer residential projects in Mumbai and Navi Mumbai. Established in the year 2000, Metro Group has today grown into a multi-faceted organization exploring new dimensions of reality with its quality construction and superior design and techniques. In the recent past, the Group has earned its stripes as one of the most trusted developers in the Navi Mumbai and Mumbai region. The aim of the team is not just to build homes, but to impact lives.
Metro Group aspires to build international quality spaces for people from all walks of life. It provides features that are strikingly different; and emphasis on little nuances that makes a difference in the day-to-day living.