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The Indian real estate has undergone a significant transformation in recent years. Some of the critical decisions and policies of Indian authorities have had a substantial impact on the real estate sector, be it positive or negative. Few policy changes introduced by the government, such as demonetization, RERA, and REITs in 2016, followed by GST and FDI in 2017, have made huge impacts on the Indian real estate sector.
Each year brings a different environment to the real estate sector. Reforms have been going on in recent years. As a result of the 2018 budget of the Union, not only a few trends emerge but also the real estate sector. As we approach the tax year 2018-2019, these trends are widespread and accepted and implemented. Let's look at what they are:
India Government is aiming at boosting the affordable apartment in Chennai, India has already given the infrastructure status to the same. Various tax incentives are available for developers for the construction of affordable housing. The government has already decided to extend the surface of carpets to 120 and 150 m2 for the MIG-I and MIG-II categories. An interest rate subsidy of 4% will also be an essential catalyst for sellers and property buyers.
Affordable apartment in Anna Nagar will become the primary component of every real estate portfolio next year. Developers will be specializing on residential complexes, plotted developments, commercial spaces, and townships. There could be category wise service providers coming up across major metros. Smart homes in Bangalore is expected to be the real estate hottest market in 2018.
The growth of the commercial sector in Bangalore is expected to stimulate demand in the real estate sector. The housing market is driven by the market for end-users and the creation of jobs. There will be various infrastructure developments such as metrofases 2 and 3 and the expansion of Phase 2 of Bangalore International Airport. These developments must lead to an increased demand for real estate in Bangalore.
The risk associated with Indian real estate is likely to be reduced because only the most critical reliable developers, who have proven themselves, will operate in the coming years. In the coming years, Indian real estate is expected to be organized much more, resulting in broader financing flows.
If you are looking for affordable residential apartments in Sarjapur road Bangalore, then Ozone KNS Oasis by OzoneGroup has the best quality flats for you.
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