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Post demonetization and RERA implementation, the real estate market in India is plagued with oversupply currently. The market in India is in the midst of challenging times. This is owing to a few noticeable macro shifts that have challenged the realty sector in the last few years.
The Issue of Demand and Oversupply
One major factor impeding the realty sector in India is the oversupply of residential properties. Cities like Ahmedabad and Hyderabad have a relatively comfortable inventory situation compared to major markets like Mumbai, Gurugram, Bengaluru, Noida and Ghaziabad that have an average inventory of over five years. Gurgaon, for example, has grown phenomenally in terms of urbanisation and industrial development. Even if we assume that sales improve in the coming years, the situation is unlikely to change soon.
Some positive trends in the market
Overall Outlook of India’s Realty Sector
Gurgaon has seen a steep rise in terms of residential projects and infrastructure being developed by reputed real estate players. Home-buying avenues and options have therefore increased rapidly in the area, and the future looks promising. If you are thinking of benefitting from this scenario and invest in apartments or penthouses in Gurgaon, Luminare by Mahindra Lifespaces is among the new projects here that’s definitely worth consideration. The project offers spacious homes with lavish amenities that introduce you to a new world of luxury.
References:
1. Real estate in India: Current state, challenges, and outlook – India Infoline