House sales have boomed these past few months, with 10% growth in real estate forecasted for 2021, raising the hopes of builders like Shravan Gupta.
Today, the housing sector has undergone tremendous change and has emerged as the most profitable sector. With this improved outlook, some experts such as Shravan Gupta feel that real estate will witness real change in the coming months.
Real estate is one of the most progressive sectors in the Indian economy. Despite undergoing an economic slowdown, it is gradually picking up. This has raised the hopes of many home buyers and builders like Shravan Gupta in this festive season.
Many factors have brought about these changes in the real estate sector.
Enhanced sales in the housing sector
This year has proved to be a profitable one in terms of house sales. Experts have forecasted that the real estate sector will grow by 10 percent in 2021. Such a trend has become visible in most major cities like Mumbai and Delhi and is now noticeable in mid-level cities like Indore as well. It has been estimated that revenue has risen by Rs. 24 crores since 2020.
Housing sales are projected to have risen by 78% since August. People are buying more homes.
Stamp duty cut
Stamp duty plays a major role in deciding prices. Shravan Gupta feels that a low rate of stamp duty is responsible for bringing down the overall cost of home loans. However, it’s best to keep in mind that this varies from city to city. The festive season has come as a boon for real estate as stamp duty rates have been cut specifically for this season.
Builders have realised the potential of changing the environment in a post-pandemic world. They are developing homes with the latest amenities like gyms and schools in one area. This is usually offered at a relatively affordable price with optimised incentivised buying schemes. Many people are now working from home, which makes them need bigger spaces for working. This has further strengthened the need for such beneficial schemes.
It is precisely these factors that have brought about the revolution in the housing sector. Some market experts feel that this trend will continue well into 2022. Read More