To cut to the chase, 2018 looks more promising for the sellers as well as the buyers in comparison to the previous 2-3 years.
Demonetisation, GST, Pradhan Mantri Awas Yojana (PMAY) and RERA have all helped instil the lowered confidence in the investor and the buyer section. By introducing a way for more transparency, these amends in the real estate market have boosted the investment opportunities and growth prospects for the realtors. The potential buyer segment has started to relook at the market with a more informed outlook.
It is strongly believed that the effect of RERA will continue to positively impact the residential segment in Pune. Developers are less likely to deviate from timely delivery of ongoing projects as well as become more flexible on pricing and payment structures; thereby, promoting real estate sale-purchase activity.
Where we saw a major slack in the market in 2016, it was followed by consolidation of the effects of all the new policies and regulations. Hence, 2018 only looks more promising than ever.
With this kind of rationalisation in the market accompanied by the support of PMAY, the affordable housing sector will see a positive traction. The demand for budget homes might spike considering the changing market trends. But 2BHK and 3BHK still continue to pull investors.