A survey conducted by ASSOCHAM stated that around 65% of working individuals look at real estate as a model of long term investment, since property and land investments have always been thought to be a treasure chest for investors. But the lagging and slow growth in the sector for some years had brought that idea to a standstill. Since then, the implementation of various acts like RERA, GST and demonetization has paved the way for a year which is likely to bring about positive change in the real estate sector and which in turn has brought back investor interest. This faith in a revival is being corroborated by a report from Sotheby’s International Realty in partnership with PwC and RICS, which says only developers with a hardy balance sheet will survive the boom. A lot of hope is being rested on the shoulders of RERA, with the expectation that it will institutionalize the selling of real estate through reputed and documented realty firms only. It is being believed that the stringent laws being laid out will lead to the weeding out of illegal and dubious agents. As a result of this house cleaning, only some prominent real estate institutions and brokerage firms will remain which is being banked on to drive back in investor confidence as well as bring in potential new users. It has also been observed that end users are demanding and trusting only completed units rather than those under construction or in the launch phase. As a result, developers are scrambling to complete their projects and as a parallel result, this is also being expected to reduce the high supply substantially. A report named Luxury Real Estate (Overview for 2018) released at the Global Luxury Realty Conclave (2018) which was organized by India Sotheby’s International Realty in alliance with CII, stated that residences which are a luxury segment are expected to hit huge growth rates, especially with companies like Four Seasons and Trump Towers entering the Indian real estate market. Trump Towers already has four holdings in India- Kolkata, Mumbai, Pune and they also entered the North Indian market back in January. As for Four Seasons, it too had announced a private residential project in Bengaluru a month back. The report emphasizes that the focus on brand value is prominent now more than ever, especially with new affluent consumers who want to choose a real estate company which can provide a two- way investment regarding both the buying and selling of assets. So, the implementation of new laws which are sure to bring about more transparency in the sector, coupled with the upcoming demand for luxury residential units and the playing field seems to be set for major developers focusing on high- end luxury projects.

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