The down fall of rupee in the first half of 2014 has casted dark cloud over the realty market, especially about residential properties. So, year 2015 is going to be the improvement year, developers are planning to use this year to put the residential properties on the right track. This year RBI is also going to trim down the interest rate on residential projects, just to get the attention of buyers and investors. 8 to 9% of development has been predicted by the researchers and well.
Residential properties are going to rule this year:
- This year buyers are demanding residential properties more
- In order to get smart return buyers are heading towards plots rather than apartments, villas and floors
- Plots are looking like best property investments because investors are using their brains differently they can buy a rich land and construct apartment over it and make a way to get larger profit by renting it out or selling it.
The Union Budget of 2015 has disappointed realty sector a lot as it wasn’t containing any tool to support demand and supply in real estate.
Commercial properties will be in demand this year than housing or residential properties. One more major change which housing market is going to see that is the demand for affordable housing is increasing than luxury housing, it will also push the rates of affordable homes higher.
Faridabad is going to become next apt location for property investment in NCR. The reason behind demand for this location is that it is well connected with Noida, Gurgaon, Greater Noida and Delhi.
Now let’s talk about Greater Faridabad which is latest spot in the property market as it is competent enough like any other spot to provide its residents shopping complexes, high rise building, commercial points, institutes and research centres, etc.
Govt is planning to start metro between Delhi and Faridabad to make travelling cheaper and easy. It will further boost the absorption in this region.
One more thing has been discovered by Common Floor Survey, i.e. investors and buyers are more interested in regular amenities than ultra modern amenities. Most preferred amenities in metro cities are like:
- Safety & security
- Round the clock power back
- Tree lined garden
- Play ground
- Gym
Buyers of northern India are giving preference to the open green spaces.
Focus will be on smaller units than larger ones:
It has been noticed that now buyers are looking for small homes than larger because of the maintenance reasons. Even if a home is coming up with iconic beauty and super luxury facilities then also people want units ranging from 800-1200 sq.ft.
To boost the property consumption, developers are also constructing small units now and the best thing is that these units will also fit in your budget perfectly.
This year will be beneficial for commercial properties as “Tax Pass Through” status for Real Estate Investment Trust (REIT).
2015 is going to get arrival of more investors back because of the FDI in construction. Exclusion of three-year lock-in-period will bring down overseas investors which will further improve the condition of realty sector in 2015. The advantage is that now investors can depart when once the construction is finished.
Now I am going to tell you about the demands of buyers in Bengaluru and NCR areas:-
One more trend has been noticed since last year that buyers are more attracted towards ready to move in properties, so it looks that developers will be working towards such properties this year also because the realty market is already suffering from low demands therefore, builders will be working on it.
Resale properties are available in bulk:
resale properties are available in bulk. In the list of resale properties Bengaluru has got the first position with total availability of 60%, Chennai with 31% and Pune with 36%.
Realty sector of National Capital and Mumbai is also seeing abundance of resale projects.
Buyers of Pune have found out another way to own a property, when prices are climbing-upstairs each new day. They are now moving towards out skirts so that they acquire a home/office/ retail space at comparatively cheaper rate. This trend has been noticed since year-2014 when the buyers started visiting properties located in the peripheral areas.
