Here is what experts have to say for some frequently asked queries about the challenges in the Indian Real Estate.
- Outlook of Real Estate Industry in India. What are the predictions?
It seems the industry is still passive yet this doesn’t stop buyers from investing in it. When it comes to Metros, Bangalore is doing better compared to Chennai, Delhi and Mumbai.
- CMDA approvals are prolonging. Is this an issue to be considered?
Chennai is the one to face this challenge even though the CMDA seems to have been encouraging real estates by relaxing their approval schemes. The approval process is now made online which is less time-consuming.
- Does this have anything to do with the delayed project completion?
Yes it does, sadly. There are other issues too, like laborers strike, increasing home loan interest rates and the banks giving a hard time for real estate firms.
- How do the consumers react to the changing Real Estate Industry?
Better than worse, the investors are well aware of what is happening in the daily market and react wiser to it. The industry is transparent which helps the consumers in every possible way to avoid loses. People are educated and they have good exposure to the world wide happenings, says experts.
- Which housing sector is of demand in the present market?
Coping with the different sectors of people is the toughest task that the Real Estate Industry everywhere tends to face. The affordable housing scheme has been introduced recently in many states by the respective State Housing Boards in favor of its residents.
The luxury segment, however is unpredictable due to increase in price and lesser number of buyers.
The middle class segment is doing an okay job comparatively focusing on the IT corridor such as OMR and its settlements.
Keep in mind before you invest your money over Real Estates in India. These challenges aren’t a joke by themselves. One should be well aware as he/she is to take the sole responsibility for such a huge investment.