Anuj Puri, Chairman – ANAROCK Property Consultants
With Union Budget 2018-19 just around the corner, the Indian real estate market waits with bated breath to see how it can potentially benefit.
In fact, it has never been a better time for aspiring homebuyers, as there is a more than generous stock of ready-to-move housing options across most Indian cities.
Ready properties are the pièce de résistance of 2018, not least of all because they are the most de-risked purchase proposition, do not attract GST and offer instant gratification. After all, owning a house is the culmination of almost every Indian’s lifetime efforts and aspirations.
The sense of security, achievement and social stature linked to home ownership is what has for long been driving the demand for – and supply of – residential developments across India. All major roads, railway stations and airports are flanked by hoarding advertising real estate projects.
With a massive urbanization rate of more than 30% (estimated to reach 40% by 2030), the demand for homes in India an assured long-term story in which chapters will continue to unfold.