Today the housing sector has undergone tremendous change and has emerged as the most profitable sector. Some experts like Shravan Gupta feel that real estate is going to witness some real change in the coming months. It is this factor that has changed the outlook of real estate making it a profitable venture.
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 risen the hopes of many house buyers and builders like Shravan Gupta alike. It’s precisely these that have boosted the sentiment in the festive season.
Many factors have brought about these changes in the real estate sector. And such changes are:
· Enhanced sales in the housing sector.
This year has proven to be a profitable venture in terms of house sales. It has been estimated by experts that real estate is forecasted to grow by 10% in the year 2021. Such a trend has become visible in most major cities like Mumbai and Delhi. But this trend is now noticeable in Mid-level cities like Indore as well. It has been estimated that revenue has risen by 24 crores since 2020.
It has been estimated that housing sales are projected to have risen by 78% since August. And this has led to people buying more homes.
· Stamp duty cut.
Stamp duty plays a major role in deciding the pricing factor. Shravan Gupta feels that a low rate of stamp duty is responsible for bringing down the cost of overall home loans. However, it varies from city to city and it’s best to keep in mind this factor. The festive season has come as a boon for real estate as stamp duty cuts have specifically been cut for this season.
· Incentivising buying.
Builders have realized the potential of changing the environment in a post-pandemic world. They are developing homes with the latest amenities like Gym and school in one area only. This is usually being offered at a relatively affordable price with optimized incentivized buying schemes. Most people are now working from homes which makes them need bigger spaces for working. This has further strengthened the need for such beneficial schemes.
· New designs.
Shravan Gupta is one builder who uses innovative technology to make his building apt for meeting today’s needs. Most buildings today are made in an eco-friendly manner with the latest amenities. This can be considered one of the major factors when a person goes to buy a home.
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.