Real estate sector has majorly contributed to the country’s GDP. Ever since the government made some major changes in the policies, the Indian realty market has been soaring. Industry experts at Modi Builders have reviewed that the reforms created a rather transparent and reliable working system like never before.
Current scenario of the market
The residential realty market in Hyderabad saw an increase of around 30 percent, with the unsold residential property dropping at a staggering rate. Moreover, the GST levied upon the under-construction flats and the on-going construction for affordable housing has witnessed a significant reduction. For the flats which are ready, there is no GST imposed.
Efforts of the builders
Along with the government’s change in policies, the reason the Indian realty sector has been thriving vigorously the increase in foreign direct investment (FDI). The builders are also playing their own part well to thrutch the government’s efforts and further boost the industry.
The new office bearers of the Confederation of Real Estate Developers’ Associations of India (CREDAI), Hyderabad are hoping that the government implements the single window approval policy to ease the growth of the real estate industry. They are also focusing upon satisfaction of the customers while improving the skills of their new members to adhere well to the standards of the industry.
Builders like Credai and Modi Builders are making significant efforts for the growth of the realty market. With the residential buildings being stacked up in the western corridors of Hyderabad like Gachibowli and Madhapur, backed up by the IT sector, builders are now planning on extending the market more towards the east for the overall sound development.
Developers will now be focusing more on the areas that have potential growth prospects while working closely with the government to get the right stimulus.