Every individual would dream to purchase a home or property in their lifetime. It has become challenging in recent years due to various formalities. For most builders and developers, it is still challenging to manage various regulatory reforms. But still, the present situation is the best time for buyers to purchase the property.
Less number of new projects: This year, there have been very few projects launched in the market. It has been decreased to 20% from 60%. Because of this reason, most developers are holding their new project so as to manage the RERA impact. In many cities, property prices have stagnated or fallen as the investment demand is the boosting contrivance of the property industry.
Buyer focused market: After the launch of RERA, several confidential matters have become transparent to property buyers. RERA has helped in a great to increase transparency. It has put purchasers in a steady negotiation system. There has also been a great drop in the prices. Due to these reasons, there are a lot of ready to move in apartments and houses all over the country. Developers are providing discounts, attractive deals and offer like free club membership and free parking area.
Accessibility of affordable homes: Pradhan Mantri Awas Yojana is a useful government initiative. A budget has been allocated for lower-income group and economically weaker sections and it has been improved to 10 billion in 2019. The confidence of buyers is increasing since the property prices are increasing at a very slow rate. The developers are focusing on constructing affordable homes so as to obtain external commercial borrowings. Moreover, this way, they can take extra time to finish their projects. If you are a buyer thinking to purchase a house or property, the present year is definitely the best time to invest in real estate.