View on behalf of Mr Amit Wadhwani,MD-SECCPL
New Delhi, December 28, 2019: “The year 2019 saw the relentless challenge for the real estate sector with severe liquidity crisis leading to a number of bankruptcies, regular reforms and amends by government and increased foreign investments in the market.
We anticipate 2020 to be dynamic as well. With favorable demand-supply ratio and the support of the government, we can expect a boost in confidence of home buyers and witness a boost in liquidity in the sector.
There were a number of developments recorded this year within the sector, firstly foreign investments saw a major boost up this year. Secondly, the RERA Act that promotes transparency has made developers focused on the completion of current projects. Thirdly, the draft of Model Tenancy is already out which promises to accelerate India’s pace of urbanization by facilitating a structure of laws as well as the resolution of disputes between the tenant and landlord. Its legal framework is aimed at encouraging institutional investments in rental housing to bring out the potential of the under-tapped market. India is expected to witness real estate renting consultancy on a mammoth scale as institutional investors move in to fill the void.”
View on behalf of Mr Amit Jain-CMD, Arkade
“2019 redefined the ticket size for residential homes. right from the pricing to the marketing witnessed a transparent communication to the homebuyers.
2020 will see a gradual pickup in the sales. rebound in activity is expected in the indian housing market in the coming year. Micro markets priced around inr 22k-23k/carpet area will witness demand due to affordable housing policy and on the other hand, the elite stretches priced from inr 32k/ to 40k carpet area will only see a gradual pace.
We also hope the upcoming budget will streamline the approval process and lessen the complexity by amends and reforms.
2020 will be definitely more competitive, will continue to the race of survival of the fittest who adapts for changing times faster and for better.”