Indian Real Estate Gears Up For A Flourishing 2018
We’re closing in on 2018 on quite a high note! As per the latest report by Cushman & Wakefield, on October 30th, the cumulative investment in India’s real estate crossed $2.87 billion – now that’s a 100% jump since last year!
As per the report, billions of dollars were investing in major Indian cities like Mumbai, Bangalore, Pune, Delhi-NCR, Chennai & Hyderabad and others.
Mumbai was ranked as the top investment destination with an overall investment of USD 1,749 million. It recorded an overall increase 194% since last year.
The only other Indian city that came to it Bangalore welcomed total investments of USD 461 million.
Pune’s unprecedented growth
Even though Mumbai was ranked as the best real estate investment destination, its close neighbour – Pune, managed to beat the financial capital in terms of percentage growth. Investments in Pune grew by a staggering 285%! This says a lot about Pune and its enormous potential.
The overall investment in Pune was 336, still higher than Delhi’s USD 181 Million, Chennai’s 118 Million & Hyderabad’s 30 Million.
Turning a page on 2017
We’re heading close to the end of 2017 and this year witnessed many big reforms such as the implementation of GST and RERA – Real Estate Regulatory Authority of India. These have not only brought about more transparency in many sectors including real estate (weeding out many fly-by-the-night operators & illicit processes)
In the year before that, we saw Demonetisation – another powerful reform against corruption & black money.
The aftermath of reforms
There’s always going to be a bit of recoil after implementing reforms of this magnitude. Yes, demonetisation slowed down the economic wheel for a while. RERA has added a new set of processes & rules for real estate companies, adapting to GST has also been a challenge. But the point is, the Indian market is now rid of many of its problems that previously plagued its sectors – especially real estate!
A large influx of FDI simply highlights the trust of both, national & international investors.
Enter Kolte-Patil – One of India’s premier real estate companies
Kolte Patil is one of India’s largest real estate companies, that’s developed over 1.3 Cr. sq.ft. across many of India’s top living & commercial destinations. It is also one of the few real estate companies to be listed on NSE and BSE.
Kolte-Patil’s vast portfolio consists of an array of development segments like residential, commercial, retail parks, integrated townships & more. Our cyclic & long-standing goal has always been to create magnificent, sustainable & future-proof edifices & communities.
Explore Kolte-Patil : https://www.koltepatil.com