Real estate in India to boom in 2013
No Comments Sub Category:Cities,Pune,Real estate trends,Realty News Posted On: Dec 14, 2012
2012 was not so good for real estate market as high construction cost and falling sales affected the market sentiment negetively. However, this year was positive for home buyers who were waiting to buy or invest in real estate sector unlike the previous two years where most of the cities witnessed a steep price rise. In 2013, the real estate regulations and policies, which are pending from last couple of years, are expected to be passed by the parliament in the coming quarter. Mainly, the two bills, Real Estate Regulation Bill and Land Acquisition Bill are expected to be passed by the Parliament which will boost the sentiment of the stakeholders, said Pranab Datta, chairman of Knight Frank India.
Moreover, the approval of Foreign Direct Investment bill in India in multi-brand retail will lure foreign investors which will benefit the retail industry as well as increase the demand for commercial real estate. Next year, the Reserve Bank of India (RBI) is also planning to lower the interest rates which will further help the customers as well as real estate developers.
The changes happening in the above measure will definitely have an impact in all the sectors of real estate in India whether it is commercial, residential or retail. It is expected that 2013 will be a much better year than previous years.
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Foreign Direct Investment bill in India, Land Acquisition Bill, Pune, Real Estate Developers, Real estate in India, Real estate regulation bill, real estate regulations, Real-estate market
