By Accommodation Times Bureau
Every year, Real Estate gets its share during the time of festive season. From first day of Navratri and followed by Dussessra, Real Estate have seen spurt in sales across the country. This trend has been observed by Accommodation Times Research Foundation for last thirty years. The best period of buying properties is second half of the financial year.
There are reasons. Dewali, the sentiments are very high as far as investment and new properties are concern. After the Union Budget, it is exactly six months when funds circulate in the economy. Bonus and appreciations happens in month of Dewali, January and March. After rains, it is obvious that people search for better accommodation.
Lot of new projects are under the pipeline and many will be re-entering the real estate market. This year, the biggest reason of revival of market is RERA. Builders were forced to stop sales for want of Registering their projects under their respective state RERA Authority. This has taken almost six months time for them to prepare and register. Many are still waiting for their registration certificate as late filling due to many reasons. Hence the entire real estate was stopped and now its all over. All registered projects are in market, buyers too enthusiastic about safe property purchase. Since market was stand still for six months, buyers are eagerly waiting to buy.
After GST, onus was also on buyers to pay GST instead of Service Tax. Buyers wanted builder to give input credits and now builders obliging buyers by passing on GST input credit.
A very good time ahead for all players in Real Estate.