Developers Must Keep It Slow and Steady this Year
Jan 18, 2019 Real Estate News
In the past decade, the real estate in the country has seen a steep rise. Young people started investing in real estate, unlike their parents who took the step pretty late in life. The increase of MNCs in India with a good paycheck motivated people to invest in the real estate. The government also went with the flow and came up with the rules that made it easier for buyers to invest. The banks and financial institutes also showed much interest and came up with many deals and opportunities which further lured the buyers into the same. The builders also took the opportunity and launched projects one after another.
After a decade we see that the move and the situation were over judged by not only the builder but also government and the buyers. The project that has been stalled or is under litigation has made buyers lose their money. There seems to be no aid coming for such buyers.
The government is making an effort to fix the current slowdown in the real estate, and the buyers are cautious in investing their money. So what can the builders do in such situations?
But the work does not stop here. The buyers are still sceptical about investing in the real estate because of the image that is prevailing in the market. The least developers can do to keep their promises they have made to the buyers. Timely delivery and use of good materials is the first step towards it.
Meanwhile, the builders are under pressure to finish their projects on time and to try gaining the trust back of the buyers and investors. It is a crucial time with general elections just a few months away; it will further decide the fate of the industry.
After a decade we see that the move and the situation were over judged by not only the builder but also government and the buyers. The project that has been stalled or is under litigation has made buyers lose their money. There seems to be no aid coming for such buyers.
The government is making an effort to fix the current slowdown in the real estate, and the buyers are cautious in investing their money. So what can the builders do in such situations?
Keep with the reality
The real estate industry in the country has suffered a lot because of the hopes they were riding at. The buyers and investors have lost so much; the developers have lost the trust of the buyers. It is a lot to lose. To revive the industry, the government is making the efforts by introducing new laws like RERA and GST. The data has shown that there has been a rise in the real estate industry since 2017 which is welcomed as good news.But the work does not stop here. The buyers are still sceptical about investing in the real estate because of the image that is prevailing in the market. The least developers can do to keep their promises they have made to the buyers. Timely delivery and use of good materials is the first step towards it.
Keep the financial crisis in mind
Even though we expect that there will arise in demand this year, it is foolish not to factor in the fact that there is a financial crunch across the country. The financial institutes and banks do not have liquid money with them.Meanwhile, the builders are under pressure to finish their projects on time and to try gaining the trust back of the buyers and investors. It is a crucial time with general elections just a few months away; it will further decide the fate of the industry.
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