Real estate sector to witness revival in 2013: Experts
New Delhi- With major fluctuations in the Indian realty market over the past few years, experts expect that the year 2013 will create a developing uproar in the sector. The key reason would be government’s positive approach towards the revolutions and moderation pertaining the interest rates.
The year 2013 will see the Land Acquisition and the Real Estate Regulation Bills being passed followed by a dip in the RBI interest rates. A cut in RBI interest rates will definitely benefit both the consumers as well as the developers. Another reason for the prediction of real estate boom in the coming year would be Government’s seriousness in the FDI in multi-brand retail and introducing reforms. The FDI in multi brand will boost the commercial real estate demand.
Talking about the residential property prices, they are expected to experience a subdued growth with a short to medium term until the ease of unsold inventory. However, the developers were asked by the Finance Minister P Chidambaram to give away their unsold inventory at lower prices.
Cities like Delhi and Bangalore are also expected to witness a positive impact on the residential market due to the infrastructural developments like Greater Noida metro rail network and proposed metro link in north-west Bangalore.
Both national and international brands are geared up to increase their footprint in the country followed by an anticipated growth in retail rentals and other established hubs.
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Commercial real estate, Delhi, finance minister P.Chidambaram, Indian real estate sector, Indian realty market, Land Acquisition and Real Estate Regulation Bills, RBI interest rates, Real estate in India, Residential property prices
