Amongst all the trends that the real estate sector witnessed in the year of 2018, affordable housing came out to be the most successful and lucrative. The builders of Affordable Housing took great advantage of the opportunity and as a result witnessed a fair revival in the residential market, primarily marked by new launches and sales in the sector.
Affordable Housing is protruded to continue to drive the market growth even in the year 2019. The government’s policy incorporation for the real estate sector brought about transparency in the market which in turn aided the sector to a great extent. The policy implementation augmented the buyers’ sentiment and regained their trust in the real estate market. Buyers are now showing more interest in investing in projects.
The GST rate cut on housing is also in the favour of the real estate sector and is currently working to build consent with the states. The residential market is indicating more signs of revival with the different policies provided by the government and various other factors including the grant of Infrastructure status to the segment and the GST rate cut on the sector.
Mr. Pradeep Aggarwal, Co founder & Chairman, Signature Global and Chairman, National Council on Affordable Housing, ASSOCHAM says, “Being in the market since a decade, we’ve seen many trends and changes in the real estate sector. Affordable Housing is one of them and this came out to be a great success and is still flying high. 2019 is expected to bring about more such trends and the Affordable Housing sector is foreseen to lead the way in the market.”