Trends those are likely to shape the real estate market in 2020

2019 was a relatively challenging year for Indian real estate, which faced a slowdown in the sector. Nevertheless, the recession made Indian developers aware of where they stand and the drawbacks are to blame. As a result, industry experts expected, in 2020, to adapt to several changes in terms of preference, demographics, technology and policies, in a bid to boost buyer sentiment and promote affordable housing sales.

Even with the slowdown in the sector, sales showed some signs of improvement in Q3 and Q4 of FY19, due to redemptions made by developers in their product offering, based on an understanding of consumer demand. New age developments are more suitable for millennial, which are actually the target group of many affordable housing developers,” says Dinesh Doshi, Managing Committee Member, CREDAI MCHI, Raigad.

Top Realty Trends in 2020

Real estate to operate the end user

The market is becoming increasingly end user driven. “While the number of real estate investors is already small, this segment is shrinking further. In the coming year, it seems that almost all of the demand will come from end users, with the supply of products targeted primarily to them, says Mayur Shah, Managing Director, Marathon Realty.

Demand to increase compact housing, co-working and commercial space

The demand for 'compact housing' is likely to increase a great deal across the country. In different regions, homes whose price is right have the potential to elicit good feedback from consumers. Developers will address this challenge, going further,” says Shah. The healthy demand for co-working spaces seen in 2019 is likely to continue until 2020. The growth of the commercial real estate segment, which is attracting foreign investments, will also help in improving the economy.

Heavy Dependence Technology

New-age customers rely heavily on technology and social media as they enter the housing market. Thus, it will become imperative for developers to adopt and leverage technology, to engage with customers, to enhance the experience at every point of view and to create positive perceptions about the field. Adoption of technology will also increase efficiency, quality and transparency, which will lead to change in the sector, ” he explains.

Challenges facing real estate in 2020

The industry is seeking support from the government, to overcome some challenges and to emerge from the recession. While the government has taken several steps so far, continuous reforms are necessary in many key areas.

·     Industry status and single-window clearances

·     Funding from banks

·     Financial bailout

·     GST burden and input tax credits

·     High stamp duty charges

·     Home loan interest rates

Why are 2 BHK apartments ideal for investment? 2 BHK - Best Real Estate Investment

The Indian residential real estate market has grown at a rapid pace over the past few years. With revised government policies, today every person can afford a household expenditure whether it is single or family. However, when it comes to acquiring a property, most buyers get confused about whether to invest in a 1 BHK apartment or a 2 BHK.

A 1 BHK is priced significantly higher than a 2 BHK, but if we evaluate market trends and other factors, a 2 BHK is more pocket-friendly and cost-effective. So, have a look at some of the benefits that a home buyer can enjoy while buying or investing in a 2 BHK flat:

Cost-effectiveness: If you go by market value, a 1 BHK apartment costs a lot less, but doing a little bit of market research will help you understand that buying a 2 BHK flat will be more cost effective than a 1 BHK.

For example, an A1 BHK apartment in Noida Expressway is somewhere between Rs 22 to 25 lakhs, while a 2 BHK cost starts at Rs 30 lakhs. So, just by applying some money, you can get more space, room space and a better unit for your family. The price chart is similar in cities like Hyderabad, Bangalore and Chennai.

However, if you take a little more out of your pocket and move to other cities like Gurgaon or Mumbai, you can get a luxury 2 BHK unit with unique features. Because of this, many potential property buyers wait and save enough money to save their money.

Market Availability: With the implementation of new policies such as affordable housing in the real estate market, a mid-segment working professional can think of buying a 2 BHK apartment at an affordable price. Apart from this, developers are also launching 2 BHK units as the demand is more than 1 BHK in the market

Spacious: A 2 BHK is roomier than a single BHK apartment. You have larger rooms and more outdoor space. Many times, many developers combine a child's room or a study room to give the 2 BHK unit a big boost. It becomes easy for you to adjust the furniture and plan the home decoration items accordingly.

Future plans: Most individuals want to buy a home when they settle down with their family or plan to have one. At this time, buying 2 BHK is always measured as a decent alternative as it is in the future. As your family grows, you need a bigger place to live. A solo BHK is good for a single person who has just started his professional career.

Returns and Profit: 2 BHK apartments are ideal investment options considered by medium-sized families or nuclear families. Philosophically, for a long-term objective, investing in a 2 BHK property is definitely the best thing you can do to get a better return on investment (ROI). 

2 BHK can be easily rented or sold due to its affordability. Therefore, with these benefits, it is always better to buy a 2 BHK apartment from SuGanta Realty Services llp.

The Government is considering giving more power to RERA officers

Real state regulators are all over India and sources have said that they will expedite amendments to the Real Estate Regulation and Development Act (RERA) to give more teeth, especially to conduct the orders passed by them.

It is not only home buyers who are obsessed with non-compliance by builders, legislation and orders established by the Real Estate Regulatory Authority (RERA), even regulators are concerned with the unfair disposition of builders.

Fed up, regulators are expected to explore further authorization under the law to make them legitimate to engage the untold inventions of builders to make them fall in line and find ways to complete projects.

They are also expected to raise issues before the government, including funding conditions for the region, which is unhappy with abandoned projects beyond the country. "Our terminal responsibility is to understand that abandoned projects are executed and therefore we have to look at liquidity issues," a regulator said.

The government is considering giving regulators more control so that they can practice bold steps. The law had created a perception in the states, there were some challenges to pursue it. He said that some legal matters need to be determined for the efficient functioning of the regulators.

It is a collective effort to recognize the issues early, address them and make suggestions to the government. Most attention is on how to strengthen and develop the system.

SuGantaRealty Services llp offers great information to all about upcoming project in property. Our team of experts offers a route to sellers to use all the options to reach to the maximum number of buyers. On the other hand, we give entire information about the property to the buyers and thus, allow them to make a good decision by www.SuGanta.com