Experts believe that the year 2018 was a mixed bag for the real estate market in India. There were certain locations & markets which gained profits while the majority of the market was considered neutral as far as profits and business were concerned. The implementation of various government policies like RERA, GST, Pradhan Mantri Awas Yojna & Benami Transactions Prohibition Act affected buyers who wanted to Buy Flats in Mumbai, developers and investors all across the country alike.
So, what does the future holds for you if you are looking to purchase New Flats in Mumbai? What is the 2019 Indian real estate forecast? Take a look at these 5 brief points which will assist you in buying real estate property in Mumbai:-
1. Affordable Housing
The affordable housing has been the buzz word in the year 2018. The Pradhan Mantri Awas Yojna, PMAY had a positive effect on this segment. It also pushed many big real estate players to turn their attention towards affordable housing. It gave a great opportunity to the buyers who wanted to buy flats in Mumbai. As per the experts, this is going to further help the real estate make a comeback in 2019.
2. More Volumes, Better prices in Mumbai, Thane, Navi Mumbai
The year 2019 started on a positive note with an increase in real estate demand. So, if you are planning to own new flats in Mumbai, know that there will more volumes in the Mumbai, Thane, Navi Mumbai region and prices will see an upward trend. Better late than never, you can make investments now.
3. The After Effects of GST, Demonetization, RERA Will Continue
The real estate experts believe that the after-effects of GST, Demonetization & RERA will continue to hold its grip. At least the new developers will continue to feel the heat as there are several delayed projects. First, it needs to clear up.
4. The Impact of General Elections 2019
One thing general election does is that it leads to the allocation of more money into the market. The financial experts believe that it increases inflation and thereby the interest rates. This can discourage you from investing or Buying Real Estate Property in Mumbai. Those who are looking to plan better may take this point very seriously for your real estate investments.
5. The Expert Verdict
Summarizing all the points, the property experts think that the market will bounce back with more positive trends in the coming months of 2019. If you are looking to buy property in Mumbai, this year will be one of the best for owning your dream abode at places like Thane, Andheri, Santacruz.
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