India is among the top 10 International property markets in the world. The reason behind the jump in India’s rank to reach the ninth spot is the growth in mainstream residential rates. The next five years will be crucial for the investors and developers, considering the boom in the industry, suggest experts at Modi Builders.
The real estate market in the country is on course to touch US$180 billion by 2020. The market size of the housing sector in India is also expected to increase at CAGR (Compound Annual Growth Rate) of 11.2 percent by 2020.
Industry experts at Modi Builders suggest that the consumer confidence was heavily impacted in the last three to four years. However, the issue has been addressed with the implementation of RERA. The buyers are getting delivery of the residential real estate units within the committed time frame. Accountability and transparency of builders and developers have increased. The real estate players will further need to adhere to the law and make investment easier in the next few years.
In metropolitan cities, the real estate industry is going through a transitional phase. Things are falling in place with time and newly introduced reforms are shaping up the industry in favor of buyers. The demand for 2 and 3BHK apartments has increased, while luxury market is also witnessing an even growth.
In the next five years, investors can expect higher returns from property investment. The increasing flow of FDI (foreign direct investment) is also expected to encourage more transparency in the market. Top real estate developers like Modi Builders, one of the top builders in Hyderabad, are also bracing up for a change in stance. With a renewed vision and growth potential, both buyers and investors can expect better times ahead in the next half a decade.