Today's Top Gainer
Note:Top Gainer - Nifty 50 More
Despite all odds, economic indicators remained positive with India’s GDP growth rate pegged at 7.3% in 2018. CPI inflation, a major concern in the past, remained reined in at a manageable 4.8%.
Housing sales have also witnessed a jump of ~8% in the first three quarters of 2018 as against the same period in 2017. While we are still far away from historic peak levels, the positive impact of reformatory changes such as RERA and GST has been making itself felt.
To encash on the increased demand during the festive season, builders, on their part, leave no stone unturned to lure customers with freebies and discounts.
Technology is disrupting different industries across the world, and real estate cannot be far behind.
Over the past two years, we have seen the decisive return of consumer power on the market, with the arrival of the Real Estate Regulatory Act (RERA) providing the final edge.
After RERA, this was potentially the most direct and straightforward intervention move that the Government has taken on behalf of the struggling real estate sector.
As of now, developers across the country are grappling with a massive unsold inventory of more than 7 lakh units being unsold in the top 7 cities alone. How does a real estate developer make his mark in today’s dynamic property market where everyone is struggling to sell?
While the tax-on-tax has been eliminated with the advent of GST, the overall outgo from homebuyers’ pockets seems to have increased by as much as 8% across cities.
GST, a revolutionary tax reform rolled out on the 1st of July 2017, has effectively replaced the previous Gordian Knot of multiple taxes like VAT, central excise duty, commercial tax, service tax, octroi, etc.
In residential projects, the most important factor will continue to be the developer branding. This means a thorough understanding of prior delivery record, source of funds and a check on essential documents like commencement certificate, environmental clearance and approved building plans.