India is slowly emerging as the powerhouse when it comes to real estate. According to statistics, Real estate is the second most successful industry and is bound to grow more in the coming months. Its predicted growth rate is higher than countries like the USA and England. The credit for the real estate boom goes to the Government as well as builders. Shravan Gupta has emerged as “The most successful real estate developer in the year 2021.”
Mumbai- we are living in corona times yet; India’s growth rate is on the higher side. Many factors are responsible for this boom and development in the Real Estate sector. Shravan Gupta believes that the most prominent factor is the new incentives in the real estate sector. Let’s know more about these changes before any opinion is formed about the development.
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Low-interest rates- Both the government and banks have realised the value of the real estate. Banks have lowered the interest rates which are projected to be at an all-time low. Shravan Gupta believes that it is this factor that has allowed people to invest in new homes. It is common logic that when property prices drop, more people are willing to buy new homes.
It is wrong to assume that this change is visible only in Metropolitan cities. Some experts believe that the new home buying trend is becoming more prevalent in cities like Guwahati and Indore as well. -
Enhanced house sales- To say that 2021 is the most accurate year. In recent months despite a slowdown in the economy, there has been a boom in the housing sector. This has elevated the spirits of Industry experts like Shravan Gupta. And has led them to invest more in the housing sector. It has been observed that demand for houses has increased tremendously. One would assume that this trend is unique to big cities but it’s not so. This new trend is also visible in mid-tier cities like Indore.
Some experts believe that this trend will continue till the end of the year 2022.
Incentivising the real estate sector- The real sector has benefited most from the incentives by the government and builders. These changes have boosted the overall growth rate. It has taken a positive turn as more new constructions are being made.
Shravan Gupta believes that real estate is the driving force that holds great dividends for the country’s growth. And in the long run, it plays a crucial yet vital role in driving an economy to a billion-dollar economy.
It won’t be wrong to conclude that it is the need of the hour to be a part of a thriving economy like India. Real estate will lead India to the position of global dominance.