Post the implementation of RERA and other various government schemes including the lowering of GST and the Repo rate cut which led to the lowering of home loans. The introduction of the different policies in the sector has bought about transparency thereby bringing back the trust of the people in the market. Overall, a positive sentiment have been shown by the homebuyers across India in the year 2018 where 50 per cent buyers bought property due to the effective implementation of RERA in Delhi NCR which is also cited to be the main reason for the increase in the residential sales in other cities as MMR, Pune, Bangalore and Kolkata. With the introduction of many new trends in the realty sector, the sector experienced a boost especially with the affordable housing segment. Affordable housing is currently driving the growth of the realty market and the policies provided by the government supplied the steering of the realty market to the segment.
Mr. Pradeep Aggarwal, Chairman – ASSOCHAM National Council on Real Estate, Housing and Urban Development, Founder & Chairman – Signature Global says, “Affordable housing used to be one of the most neglected segment in the realty sector, but as the government came up with many policies for the segment, it gradually became the talk of the town and in the recent times, it is a vital part in driving the growth of the realty market. It is highly anticipated of the affordable housing with assistance from government to flourish in the long run.”