Starting by clearing the term, what is Real Estate basically?
Real estate is property, including land and the buildings on it. In other terms Real Estate can be grouped together into three categories on the basis of its use, which are Residential, Commercial and Industrial.
Residential real estate includes undeveloped land, houses, apartments and penthouses. Commercial real estate includes office buildings and retail store buildings and Industrial real estate includes factories, mines and farms.
The coming of the new government has revolutionized Real Estate completely. Much of its steps have benefited many people in different ways and the prominently price trend have been seen in 2016 and with this the 2017 price trend can be easily forecasted.
What is trend ultimately?
A pattern of plodding change in a circumstance, production, or procedure, or a middling or over-all tendency of a series of data points to move in a positive direction over time, epitomized by a line or curve on a graph. Rates & Trends are a resource that provides Residential and Commercial property price trends for localities in 16 cities across India.
Some of the reasons due to which these price trends can be seen are:
- The GDP growth was 6.3% so, the growth till 2017 can be presumed with a 8% increase.
- Due to the Federal Reserve Tightening the mortgage interest rates will increase due to which more occupancy will be seen in housing units.
- Demonetization of 500 and 1000 Rupee note has made severe impact by eliminating black money in dealings, reduced EMI’s and the conversion of highly priced properties to luxurious segments.
Movement in real estate in Goa and NCR across India, have remained largely dreary because of the highly priced residential options which is like unaffordable for major section of the population, but after important declarations like the Real Estate Regulatory Act, fall in the interest rates and Delhi and its contiguous areas are again flattering sought-after destinations for real estate developers.
These few steps have come a big hope for the home buyers and 2017 will be a boom for them. Downhearted home buyers now do have a reason to cheer! Because of this major price trend that has been seen in Delhi NCR. Property prices in Gurgaon, which has witnessed one of the leanest sales in the past few years, is all set to pick up.
Anshuman Magazine, chairman and managing director, CBRE South Asia, said, the government approved regulations for land amalgamating policy will pave a way for development of 100 residential projects in the expanded Delhi limits and NCR.
Why everyone wants to invest in NCR?
NCR is the hub of service industries, manufacturing sector, more housing options built by top- notch builders such as TATA HOUSING, etc. well, while forecast about the real estate market can be done to heart’s content that can be shot by home buyers!
So with all the goodies at your side, need not to wait more. Right time! Go and invest!