Property market yet to experience the actual surge in demand
Speculations are on in the property market post the newly elected Modi government declared housing for all by 2020. The low budget housing projects for urban lower income group dwellers to witness a surge is what the industry analysts speculate. However the analysts believe that the fortunes of realty the sector will not change so soon.
Since May 16, the Bombay Stock Exchange (BSE) realty index has risen 32.50 % and there is a surge in the realty stocks. It is speculated that since there is a strong government in the center, there should be stability over the next several years. Also, there are expectations that the economy will start performing better which will give a boost to the realty sector.
Since property investments are a long term investment and the sums are huge, the buyers should look at the following factors before investing-Ready to move in- Unsold-There are many properties which are ready to move in, however due to a slump in the demand, have remained unsold. Most of such properties are a few flats/houses which have remained unsold in a project. The builders normally want to sell off such properties soon and move to the next project and many a times you get a good deal if you negotiate well.
Resale offers-
Many builders, in their zeal to show that their properties have been sold off, park their properties with investors who try to sell off such properties at a little lower than the market value. You may be lucky to lay your hands on such a property.
Long-term opportunities
Since the government is talking about setting up 100 new cities, you may invest in them and look at earning rental income too.
Source- Business Standard
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