Friday, December 29, 2017

REALTY SECTOR IN 2017 & OUTLOOK FOR 2018 IN BENGALURU.

The Realty sector saw many changes during 2017 due to RERA & changes
brought in GST.The Realty sector underwent many ups & downs in 2017.
The demonetisation of old currency also hit the Realty sector.The outlook
for 2018 seems to be better than in 2017.The views of few leading players
in the Realty sector are given below:

Mr.Adarsh Narahari, Secretary,CREDAI,Bengaluru.

RERA,is a landmark Act making the Industry  more transparent & Consumer
focused will improve the standards in the industry.The Act aims to make the Industry
more organised  sector from the relatively unorganised sector.In 2018, we expect a
recovery in the industry with all the pent up demand coming to play.We expect the
prices to go up as there were very few launches in the previous year & a fair amount
of ready to move projects.More Corporate players will enter the industry as it will be 
more transparent & the fly by night  players will leave the industry.

Further more,we expect the new verticals in the industry such as senior living, student
housing & co living spaces to become more mainstream.

Mr.Vishwa Pratap Desu, Senior Vice President,Sales & Marketing.

RERA created a temporary respite in sales as developers were recouping & customers 
were waiting for things to settle down.Now,as it has settled down,we expect the 
customers to come back.Brigade group as always took the leadership position 
and expect 2018  to be much better & see a revival in the industry.

Mr.C.N.Govindaraju,Chairman & Managing Director,Vaishnavi Group.

The Bangalore Real state market showed very good resilience.The absorption of
commercial real estate continues to be encouraging.The steady demand for commercial
Real estate will act as feeder for residential real estate.Residential project  launches 
will pick up albeit at a slow pace.A clearer understanding of RERA & GST by the
customers will augur well for the residential sector in 2018.


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