The co-living market is taking off in Asia Pacific including India as more people migrate to cities for jobs or education opportunities. This is opening up new opportunities for real estate developers and investors around the region, says JLL’s ‘Co-living in Costly Cities – Asia Pacific’ report.
The senior housing sector in India is at a nascent stage with huge opportunities for the real estate developers, service providers, healthcare players and operators. Unlike western countries where the senior living sector has gained maturity, India has huge untapped potential in the sector.
2Q17 marks a record low for units launched across India, even as sales continue to outdo new units getting constructed in a quarter for the sixth consecutive quarter. A total of over 20,000 new units were launched across India’s top seven cities in 2Q17, while the corresponding number was slightly higher at over 26,000 units in 1Q17.
Real estate developers have welcomed the implementation of Goods and Service Tax (GST). According to them, the GST will greatly improve a fractured tax system and help create an integrated Indian market. The government has always made it clear that leasing of land, renting of buildings as well as EMIs paid for purchase of under-construction houses will start attracting the GSTax.