Real estate sector registers upto growth 25 Percentage

Source:In-House / Date: 29th January 2019

Real estate developers and builders confirm that registrations of land parcel and apartments had increased since last year, compared to the slump experienced in 2016 and 2017. There is a substantial growth in the real estate industry as compared to 2016 and 2017. They say that land across segments, including residential, commercial and even industrial, are beginning to find buyers. They say that small budget sales have become common and a few big budget deals too are beginning to grow.

Realtors and builders say their industry is finally beginning to look up after registrations came to a complete halt in 2016. Now a days, realtor can complete a deal in three months, as compared to six months it took earlier. This has helped lot of people. Many of them are readily investing in property again and are willing to take a leap forward into real estate.

The silver lining is hardly restricted to land movement alone; the construction industry too seems to be registering a sizeable momentum in business. A sizeable growth of about 25% is seen in the Real Estate business, hence giving a new platform to architects and civil engineers. The outskirts and the suburbs of the city also seems to be far better than the older parts of the city in terms of residential land registrations. Also residential land is moving better than commercial land on the outskirts. However, people are preferring apartment and smaller plot sizes. Plots which are ranging between 10 lakh and 30 lakh a cent are the preferred ones.

However, Real Estate Brokers says land owners how have brought down their land prices in the last one year to remain competitive are the ones who have shown successful sales. Land owners who had bought down there land prices in 2017 have started to post their property online.