The Indian realty sector has started to move towards becoming more and more organised as we see it getting stronger towards the reforms front. With RERA’s inception in the sector and majority of states making it operational, investor’s and buyer’s sentiments have started to pick up pace. With the input tax credit to be passed on by the developers to its customers, the post-GST real estate sector is expected to bring about a fresh series of demand in the next few months. Government’s plan for Affordable Housing, Smart Cities, AMRUT, Housing for All and other infrastructural advancements drifts our focus towards better-regulated Realty sector. In a nut shell, the realty sector in India is looking at a much-needed revolution which was long awaited, and in near future, we will witness a major revamp that is projected to benefit the economy in the long run.
India’s northern part of real estate is majorly contributed by the National Capital Region (NCR) which accounts to one of the biggest realty markets in the country. Districts from Uttar Pradesh, Haryana and Rajasthan, along with the NCT of Delhi constitute towards the NCR region. NCR being a prime contributor for Indian realty, there is a huge chunk of professional developers and builders in the region working towards developing residential and commercial projects. All the NCR states have made RERA applicable with only Haryana left to make the website operational.
With GST and RERA now in place, activity on the buyer and investor front has amplified. Positive sentiments are floating as customers are looking towards real estate as an investment avenue with the market now looking more transparent with the promise of delivery. As sentiments gain momentum, developers are gearing up to launch more projects and deliver the ones in the pipeline. This thrust is leading the developers towards quick completion of projects and launch new ones.
Sikka Group has recently raised Rs. 230 crores from a leading Indian bank for three of its housing projects Sikka Karnam and Sikka Kaamna in Sector 143 on Noida Expressway, and Sikka Kimaantra in Sector 79 in Noida. The amount raised is to be utilised towards speeding up the construction of these projects.
With the market gaining momentum and buyers getting in the mode of investment, real estate sector in India is projected to perform better than ever with a regulator sitting in each state to monitor all the activities. With the festive season of this year just a month away, buyers are also gearing up to invest in the era of Indian real estate.