Impacted with various policies, the real estate sector of India showed a slump in 2017.
Although implemented to address the prevailing problems of the sector, these policies led to a hampered growth of the sector initially.
The government introduced various regulations
Including Real Estate Regulatory Act (RERA), Real Estate Investment Trust (REIT), Goods and Services Tax (GST) and demonetization, with an aim to protect the rights of the property buyers and to create affordable housing in the country. The policies are introduced as a pill against the malpractices of the real estate developers.
Aimed at promoting transparency in the market, RERA amongst all the policies, became a game-changer for India’s realty sector. Seeking to clean up the market, the act promotes fair play in the market, in order to protect the interest of consumers at large.
Besides, other policies were implemented for different reasons – GST to bring down property prices, REIT to generate investment opportunities for small investors, and demonetization to put an end to the use of black money.
Industrial experts at Janaharsha Estates
Highlighted that the real estate sector might seem lackluster at a broader level. However, it isn’t the whole truth. The policy changes are showing fruitful results at the micro level.
Where other cities are still struggling to adapt the changes, the realty market of Hyderabad has been reviving this year. It has been rising substantially and reinstated its position of most preferred city across India.
Hyderabad is flourishing in the ever-changing global economic landscape. In the JLL’s City Momentum Index (CMI) 2018, the city has topped the global charts in the short term momentum rankings category. While other Tier I cities of India, including Delhi, Chennai and Mumbai, were featured in the top 30 cities.
Last year, Bangalore topped the list, while Hyderabad secured the 5th position. The evaluation has been made on various parameters – population, connectivity, real estate investment, property prices, economic output, corporate activity, construction and retail sales.
Industry experts at Janaharsha Estates are of an opinion that due to a booming realty market, Hyderabad is a major city to yield good returns to investors this year. They informed that locations in the vicinity of Hitech City, such as, Kukatpally, Nanakramguda, and Kondapur among others, are the most promising ones.
In the city ranking above all on quality of living, Janaharsha Group constructs houses with amenities that offer premium living to the dwellers. Janaharsha resorts in Ibrahimpatnam, Dream City II, is a viable example of their excellence in the construction business.
With every successive projects, Janaharsha Estates is establishing a strong foothold in a city whose residential real estate is thriving significantly.