By PALMFLOOR | 25TH-OCTOBER-2017
Though the sales bookings of April-June 2017, compared to last quarter of FY 2016-17, show improvement, but realty sector continues to face demand Headwinds due to subdued macro-economic condition & consumer sentiment, says the expert reports. The implementation of RERA & GST has played a disruptive role.
Buyers point of view these situations dampened the demand that forced the huge price cut & improved supply side. It added hope of recovery what the figures of first quarter suggest. Realty stock too climbed 18% after Diwali. Kolte-Patil, Sunteck Realty, Puravankara, Shobha Developers registered a fresh 52 week highs. It is due to good completion & delivery records. Implementation of RERA and formation of regulatory authorities has helped strengthen buyers confidence. These factors added with low home loan interest rates, rising needs of dwelling units and affordability etc are the indicators of demand revival in coming days. Now bankruptcy in realty sector is not taken as provable threat and with the ensuing economic growth demand is bound to surge.
As the situation exist it's totally in favor of home buyers. Property rates are at Rock bottom, completion and delivery side is robust, there is no threat of bankruptcy, RERE & Regulatory frame work in place, surging demand and low interest rates of housing loan - all goes in buyers favour. Since the sector is regulated and demonetization curbed black money role that used to push price, property prices are now close to real one and now one can see appreciation in real terms.
It's golden time for home buyers and any deal clinched at this time shall be the best one.