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Real Estate Trends to Watch Out For in 2016

Sudarshan Purohit
CEO & Co-Founder-Zenify.in
Thursday, March 3, 2016
Sudarshan Purohit
Headquartered in Bengaluru, Zenify.in is a real estate platform that leverages technology and analytics to provide a hassle free rental experience to owners and tenants.

We have finally stepped into the New Year leaving behind an eventful 2015 in the Indian real estate sector. The industry witnessed regulatory changes that included relaxing of foreign direct investment laws and the Union Cabinet approving the much-awaited Real Estate Bill. Expecting to begin the year 2016 on a positive note, the sluggish sector may witness a pick-up in sales with an improvement in the number of unsold inventories. Here's a look at some of the top anticipated real estate trends:

1.This year, we are expecting a high demand for ready-to-move in projects. This will bring an increased focus on project completion resulting in setting an outline for the realty sector. Prospective home buyers who wish to buy a house for themselves, will look at property that is ready for possession within one year.

2.The year 2016 will witness NRIs showing tremendous interest in Indian property. The demand will rise following the property rates going down by 20 percent even in top metropolitan cities like Mumbai and Delhi, according to a recent estimate. Investment in Indian real estate is sure to give them returns that are much higher than what was anticipated a few years ago.

3.Noticing an increase in the Indian government and Reserve Bank of India's support for reforms in the country's real estate sector, the good days are here to stay. Lowering of basis points, the ease in FDI policy, probable introduction of the Real Estate Bill, and the introduction of smart cities are just some of the influential factors that will improve the scenario of the real estate sector. Even though buyers are being influenced with all kinds of freebies to make investments, they must scrutinize every aspect before making any investments. Cross check and keep a tab on the builders, properties and locations. Before putting your hard earned money at stake, ensure that you check all the necessary legal papers.


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