After a shaky real state event in 2016-17, this year is expected to witness consolidation in the realty sector. The sector is expected to witness more joint ventures, and larger developers taking over financially weaker companies; a new wave of competitors is expected to hit the market in the months to come. Pending projects will become a priority for many developers than launching fresh projects; this will result is a good real estate market in 2018. To achieve these targets developers will have to remodel their strategies and operation.
Adding to this the GOI’s initiative to provide tax incentives remains to be a major attraction for both developers and home buyers. The cabinet’s decision on increasing the rate of carpet area for MIG-I and MIG-II to 120 sq/m and 159 sq/m, respectively, along with a 4% interest subsidy is expected to benefit both the seller and buyer.
Various developers are pushing themselves to make the best use of the new ground. Mantri Developers, one of the leading groups in south India is one of them. With great customer response on projects like Mantri Tranquil review columns, Mantri developers review sections have gained many positive feedback’s. On the other front, affordable housing is one of the most lucrative segments that has become popular in recent times. Many private developers are venturing into this segment because of its scope.
All of these coupled with infrastructural developments such as improvements road lines, developments in Metro – 2 and 3 phases, and other such developments have become a powerful catalyst towards the growth of the sector.