Real estate has emerged as the most preferred asset class for investment but nearly 50 percent of potential homebuyers, currently living on rents, feel that prices are still high and unaffordable for them to purchase flats.
According to Knight Frank India, the Federation of Indian Chambers of Commerce and Industry (FICCI) and the National Real Estate Development Council (NARDECO) which jointly releases the Sentiment index survey in the second quarter in this year show improvement of 5 points i.e. from 36 to now 41, the real estate sentiment index shows positive signs.
Basically, The Real estate sentiment index is developed jointly by Knight Frank India, the Federation of Indian Chambers of Commerce and Industry (FICCI), and the National Real Estate Development Council (NARDECO).
Liases Foras report says, tier-1 as well tier-2 cities including Bhopal shows a drastic hike in property buyers, Report estimates the data is touching a 16% hike in new home buyers which is, of course, a good sign for real estate industries as well as an economic point of view.
The objective is to capture the perceptions and expectations of industry leaders in order to judge the sentiment of the real estate market.
For boosting the real estate sector in the country central government also restructured some of there schemes and taxes rates. At 25th Knight Frank India, Federation of Indian Chambers of Commerce and Industry (FICCI), and the National Real Estate Development Council (NARDECO) the second-quarter survey report shows some trends of positive recovery and that’s is what the economy and real estate sector wants.
In context with these two reports, the upcoming 6 months is going to be so crucial for real estate sectors, also September onwards of this month Adhik maas as per Hindu mythology stared which is referred to be the best time to buy a property or investment purposes, also in upcoming months various festivals are coming like Diwali and Dussehra which is likely to be the most booming time for all over the sectors in terms of positivity, returns, and offers.
The economy suffers a lot during this corona time and lockdown suppressed it more, but these situations teach the importance of own a home, and amid this, the government also gives offers and updations in their policy related to real estate.
Written By – Mukund Kumar Pandey
About Agrawal Builders: It is a premium real estate developing firm in Bhopal with a wide range of residential properties and beautiful amenities like a modern clubhouse, gymnasium, swimming pools, parks, and garden, etc.