2014: Will It Be A Great Year To Buy Properties In India?
The year 2013 has ended. Through the entire year that has gone by, the Indian real estate economy has seen many ups and downs, on a regular basis. However, in spite of the slow economic growth witnessed by the country, it is the property and realty sector that has somehow seen a good and steady rise. Largely relying on its smaller sub-sectors that have shown maximum potential and promise, the property and real estate sector is one such economic division that has gone beyond the traditional predictions put forth by professional economic analysts, and has constantly proved its worth in the year 2013. One of the major reasons why the realty sector ruled the roost over the past year was the extremely high rate of demand witnessed by the luxury properties sector. Moreover, the country also noted a considerable increase in the demand for commercial property in Mumbai and other high profile cities in India, especially by NRIs and other foreign-based investors. This has brought a great amount of valuable foreign exchange and currency to the economy.
Most real estate agents and property experts are certain of the fact that, in 2014, the realty sector in India will see a remarkable increase in the overall demand for both, commercial and residential properties. With the outstanding change in architecture and substantial technological advancement, the Metro cities in India are being touted as the next big cities to watch out for. A recent study conducted by a reputed economic newspaper in the country stated that if the minimal selling price of properties are reduced in the coming year, more and more real estate investments will eventually move in the desired direction. With the cautious approach maintained by realty investors in the final months of 2013, the situation is about to change in 2014. Due to more employment opportunities, improving economic environment and rise in quality of civic infrastructure and amenities, 2014 seems to be a great year to invest good money in some upcoming projects in Mumbai or other similar metropolitan cities such as Delhi and Bangalore.
There is no doubt that the year 2013 witnessed a considerable expansion in the amount of infrastructure and transport facilities. However, one could also testify the growth seen by the outskirts and other suburban areas in the country. Experts suggest that most developing areas such as Manesar, Bhiwadi, Ulwe in Mumbai, Dwarka Expressway in Delhi NCR, Pune and other small scale residential areas of Kolkata and Bangalore will undergo a huge transformation in the coming few months. These areas based in the urban regions of India, will eventually emerge as large-scale investment markets for foreign investors and other real estate buyers, looking for a good amount of value-for-money properties in India.
The increase in the demand for more and more commercial real estate property, and well-defined rules and regulations set by the FDI will boost the growth and development of property sub-sectors. With increasing demand for commercial and office spaces in cities like Mumbai and Gurgaon, the year 2014 is bound to bring about several well-placed market and economic sentiments. There is no doubt that 2014 is waiting patiently, with its bag of property-based surprises, with a firm foundation set in the previous year. With the forthcoming general civic elections and a rise in foreign investments, especially in property, 2014 is the perfect year to keep a tab on some of the best property sites in India, and watch out for unbelievable property deals that are about to unfold!
