Amid all the twists and turns, it can be clearly stated that overall, the real estate industry has been extremely useful for all the investors, coming from different walks of life. Based on equalisation changes, countrywide, residential real estate assessments are presently up at an average of 9.57 percent with an average assessment showcasing a profitable growth. According to reliable reports, it has also been observed that the real estate industry has been primarily profitable for the residential as well as commercial sectors in the major part as of 2022.
It will hence be extremely insightful to see how the industry is going to fare in 2023. It is also quite insightful to underline here that presently, because of multiple governmental interventions, the real estate industry has been backed up by the support of the local as well central government and this has resulted in an unprecedented investment rate in the latter half of 2022.
Here are some of the most advantageous aspects as can be predicted for the year 2023:
Real estate demand in India will certainly boom in 2023
According to the data received by one of the most reliable newspapers, The Times of India, the growth in the real estate sector is going to exponentially increase and can actually reach about 13,00, 000 crores in the upcoming year 2023.
The Volatility of the market will be on a new high
The real estate sector is now going to create potential for the capital gains by giving greater tax advantages to the potential bidders so that they can come up with more enticing projects. There is no doubt about the fact that a fresh stream of generating income can be channelised in 2023.
Growing economy is going to work in the favour of real estate
The tertiary sector of the country is all set to escalate and is going to create more attractive investment destinations for the foreign as well as domestic investors. If the reports are to be believed, India’s population is expected to reach 1.5 billion by 2023. No wonder, the requirement for housing spaces and facilities will also increase in the times to come.
Lower interest rates and government subsidies are going to accelerate investors’ interest
The Reserve Bank of India has been steadily reducing interest rates for the home loans as well as other borrowing products. This definitely makes it easy for potential buyers to purchase property. Moreover, a lot of subsidies like tax benefits for developers, financial assistance for housing constructions, as well as other incentives are being given by the government to support the real estate industry.
The evolution of the economic trends
Last, but not the least, the real estate sector is going to be extremely dynamic and competitive, and it is going to thrive for sure. It is quite obvious that the lower interest rates and the increased access to capital can allow more people to enter the market. Simultaneously, while the people continue to earn more, they will try to invest in high-end property.
There’s no doubt about the fact that it is going to be an extremely profitable year for all the traditional as well as new age investors! If you’re also interested in multiplying your income through passive sources, investing in real estate is a brilliant idea! If you’re confused about the steps to take and want professional intervention before making your best decision, call us NOW or visit our website in order to seek more details. Geetanjali Homestate Private Limited happens to be a renowned real estate advisory and consultancy firm that can provide you quick solutions related to all your queries when it comes to making mindful investments.