Ever since the introduction of RERA and REITs in 2016, followed by GST and FDI in 2017, the Indian real estate sector has experienced major transformations. the prices and trends took a roller coaster ride through the graphs in all the cities of the country.
While at the time these policies and decisions may have affected the real estate market negatively, the positive impacts surfaced soon after. Non-serious players were eliminated from the market and serious players got the limelight they deserved. With RERA, good developers delivering quality constructions and transparent practices have nothing to worry about. The policies that were the prime highlights and made a huge impact on this sector were.
The transformation and reforms have already attracted both types of investors – domestic and foreign. Continuing the positive trend, 2019 seems to be a positive year for homebuyers. Listed below are a few reasons why 2019 brings hope and positivity for homebuyers:
1.Low Price Inflation
Over the last decade, housing prices have risen at almost double-digit rates due to which the dream of owning a home had become a distant reality for many. The metros and cosmos in India are some of the most densely populated cities in the world. So, for homebuyers, 2019 is said to be a good year for investment as the prices of homes will rise at just half the rate of consumer price inflation. 2019 is indeed the right time to invest in your first home!
2.Impact Of 2019 Elections
The overall picture for Indian real estate in 2019 seems favourable. With the General Elections coming up in the first half of the year, they are said to play a pivotal role in deciding which direction the fate of Indian real estate will sway. Homebuyers usually wait it out right before the elections to invest in a home just to gauge the impact of new schemes and policies that the Government may announce. That is mainly the reason why the period right before the elections is deemed favourable for homebuyers as they can engage in some hard bargaining. All the more reason to make this year a memorable one in a new home!
3.Safety Of Investment Due To RERA & GST
The game-changing policies such as RERA and GST brought in a whirlwind of change in the initial months of its implementation in 2017 and early 2018 as well. However, new project launches increased by 18% in the first three quarters of 2018 as opposed to the same period in 2017. Real estate looks more upbeat now considering the growth pattern and in terms of the overall consumer sentiments which is why builders will now focus on launching more new projects across various cities in India next year in 2019. Watch out for new launches by Emaar Properties’ new launches this year!
Mohali Hills is one such project designed by Emaar India set in an ideal location. It brings together tranquility and luxury in the best way possible. Also, unique township amenities and features make it a perfect space to call home. The Chandigarh International Airport is just a short 20 mins drive away which makes it the perfect location to build your home. So, if you’re looking for a residential property in Mohali with residential plots, Mohali Hills would be the best fit.