We all know the nature of the real estate market. It is not stable, and it is likely to transform every year. In recent year, there are dramatic changes in the real estate industry. This is due to the regulations issued by the Real Estate Regulation and Development Act. Several housing schemes announced by the Government for providing affordable houses for people influence the growth of the real estate market. The reforms of RERA and the GST reforms have made the real estate market transparent. It is an excellent boost to investors and customers.
Forecast Of Real Estate Trends -2018
The most popular expected trend of the real estate was the interest of consumers to invest in ready to move-in -homes. It is expected that developers would work on completing with the available inventory before entering into new projects. Homebuyers would consider the history, track records, and quality of construction projects of the developers when making purchase decisions. It is expected that with recent reforms of RERA investment environment would improve. There is likely an excellent opportunity for private developers to enter the real estate market.
Property Price Trends-Metro Cities
The following list would help to understand the property price trend of popular metro cities.
There is an increase in real estate investment in the popular metro cities. The earnings of the people in metro cities have been increased. This is the main reason for the flourishing real estate market in metro cities. The prices of the real estate property vary based on its location. Here you can have a look at the real estate property price trends.
Mumbai Suburbs-Rs.20,000-85,000 Per Sq Ft
Mumbai South-Rs.60,000-1,25,000 Per Sq Ft
Pune –Rs.12000-16000 Per Sq Ft
Bengaluru Central- Rs.10,000-19,000 Per Sq Ft
Hyderabad Central-Rs. 4500-6000 Per Sq Ft
Chennai Central-Rs.16000-30000 Per Sq Ft
The above offers a clear forecast and price trends of real estate property.