Real Estate Makaan.com |
Property in India is largely driven by boom in economy which, in turn, varies markedly due to different factors present in different states. Take the case of IT driven economies like that of Pune and Bangalore. Real estate prices there are directly influenced by the boom or the slump of IT sector. Suppose you invested on a luxury house there, assuming huge returns after 5 years. But if the IT industry sees a plummet during this period, you can't expect your money to get manifold. So assumption went wrong.
The other factors that are blocks to taking the right decision at the right time are mainly related to lack of regularization of the landholding licenses. The unusual delays in getting the land approvals, the resulting corrupt practices followed by landlords and developers, and resorting to duping the customers makes it very hard to bring in the transparency. Also, the investors keep on waiting for the price correction values while the developers try to mislead them by presenting the manipulated figures and misquoting rates.
An average Indian buyer is aware of the popular property sites where he can find a residential house of his dreams; he largely depends upon the current trends published over these real estate websites for expecting capital appreciation. The rates of a plot that he purchased today may remain almost the same even after a decade. So, assuming that prices would indeed rise after a period of time is not correct. The things are unpredictable.
The Real Estate Regulatory Bill by Government of India is yet to gain stronghold; investors require updating themselves of the regulatory conditions coded therein. If implemented properly, a big chunk of black money involved in leasing, transaction, and legalities would be cleared off the market. The Land Acquisition Bill is yet to come into picture; it would further help the buyers know better of the infringements by the owners.
Makaan.com, India's fastest growing property websites, advertises the list of residential and commercial complexes available to buy and rent
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