Defying previous election year trends when sales and new launches remained muted during this period, Q1 2019 saw both housing sales and new supply rise due to multiple Government sops in the first three months of 2019.
In line with its aim to enter the US$ 5 trillion club economy by 2025 – which is highly dependent on real estate and infrastructure – the government has taken a multi-modal approach towards infrastructure development in the country over the last five years.
Indian home buyers have traditionally been at a disadvantage in the property market. Despite the fact that three in ten property projects are said to face some kind of construction delay, buyers who had to buy into under-construction projects because of budget constraints had little recourse if the project stalled.
2017 was a bad year for Indian realty. Launches dulled as the industry reeled under the impact of demonetisation and the newly introduced Real Estate (Regulation and Development) Act (RERA) and Goods and Service Tax (GST).