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Launch of residential projects in the top 8 cities jump over 68% in H1

In the first six months of the year 2018, there were various launches made in India for residential projects. Immense confidence was shown by investors everywhere. When it comes to the launching of new properties in 8 urban areas in India, a bounce of over 68% was depicted in the real estate industry. A tremendous growth of 106% was also witnessed in the same period. Now investors are searching for progressive ventures for investment. The property buying portals can be of great help in this case. There has been a decline in inventory level despite the growth in industry. On a positive note, the reactions of people wanting to invest in residential is great. When we look at the statistics of the year 2017, it shows that approximately 11% growth was spectated in the top 8 cities in India. To elevate the condition pf real estate industry, various schemes have been launched by the
Government since the year 2016. Like Prime Minister Awas Yojana , GST and RERA guidelines. These steps have led to more clearness in the industry, although initially these steps were not taken well. There are great opportunities available for investors who prefer residential properties. A study done by experts revealed that the sales figure has been expanding reliably in the last four quarters. This resulted in developers launching properties in the urban cities.

Among the urban areas, the most elevated number of launches has been done in Mumbai Metropolitan Region(27798 units) and then in Bengaluru(18193 units) . An intriguing statistic revealed that sales have risen by 70% in present when compared to the previous years. With the help of housing schemes, even the low income groups have invested in properties, which in itself is a positive sign. The investors are
instilled with confidence because of the rising sales figure. Commercial property does not lag behind
either, because a high demand has been seen in this sector too. Domestic and international companies both have been showing interest in this. Looking at the statistics of first half of 2018, sale of 60% has been seen in below 50 lakh segment, only talking about the sales of residential property. If someone is keen on purchasing property in India, the real estate websites gives a good brief on upcoming projects. Chances are that property rates will ascend all over the country in the coming months, so this is the ideal time for investors to make a good and ideal investment.

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TECHNOLOGY PLAYING A SUBSTANTIAL ROLE IN REAL ESTATE

Technological advancement is happening in every industry, real estate is no far behind. Various innovative technologies have been introduced in this industry to ease the way it works. This technology includes 360 degree videos, pricing models, agreements made online which will have a great impact in 2019. The e-signed documents, mobile apps have smoothed the process of selling and buying properties.

The Automated Valuation Models has enabled users to gauge the expense of buying property. The block chain enabled transactions could be a relevant thing in the upcoming years. Many builders of residential and commercial properties have embraced the technological changes in various stages of the construction process.

3-D virtual tour of the site is also done to attract customers. This gives the customers a real time experience of living. The RERA(Real Estate Regulation and Development Act) has come up, which makes it mandatory for the projects to be registered with them and all information of the project to be uploaded on website. The buyers can have access to any information pertaining to the property online from various sources.

The concept of intelligent homes has come up with internet of things amenities, home automation, control lighting, automation, bio-metric security locks, security system integrated with mobiles. With the progression in technology at each phase of buying property, there is an ease and a smooth flow of process and it’s a pattern that is set to fortify in the years to come.

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