Sales volumes for properties at Gurgaon further went down along with new unit launches were restricted in town.
Further, demonetization at the end of 2016 further influenced programmers in Gurgaon such as in the rest of the country. There was stability observed in quoted prices and discounts were available, but people stayed away from purchasing residential apartments in Gurgaon. Gurgaon saw a drop in investment at the residential properties as residential buyers, a lot of whom were primary end users were on the watch for ready-to-move-in apartments and were wary of promises of future infrastructure or property. In general, Gurgaon’s economy saw a terrific dip recently.
This newly-granted infrastructure standing also makes accessible cheaper funding options from real estate builders who can now access funds in a borrowing rate significantly less than 10% for creating affordable housing, resulting in a subsequent and definite reduction in purchase costs for homebuyers.
About 95 percent of the requirement in the real estate sector has been of affordable housing. With reduced borrowing rates, the real estate developers can now focus on constructing housing jobs where a major demand lies, and look forward to a healthy expansion in this segment.
The budget has benefitted the end consumers the most. With tremendous tax advantages provided to people in the lowest income bracket as a significant tool to drive affordable housing, the fantasy of many to own a house now seems to have closer to realization affordable housing projects gurgaon. Additionally, together with demonetization, banks have been further bombarded with capital, and there are speculations that banks will reduce interests rates further and come out with affordable and attractive home loans.
As a real estate marketplace, Gurgaon has great chances of recovering from the downtime in the recent past. One of its driving advantages has been its ability to churn out high-quality office spaces, and now while building on this strength, if programmers in Gurgaon prioritize building and launch ready-to-move-in affordable housing jobs that end-consumers put high value on and subsequently reward, subsequently Gurgaon will grow up as a strong real estate supplier meeting the housing demands of its residents.