Dr. Atul Goel believes that the year 2022 will bring tremendous opportunities for Indian real estate.

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Dr. Atul Goel believes that the year 2022 will
bring tremendous opportunities for Indian real
estate.
Dr. Atul Goel Pune, MD of the Goel Ganga Group
and President-Elect of NAREDCO Pune
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tremendous opportunities for Indian real estate.

• A pandemic is difficult for anyone. But it is
  only when things become truly difficult that we
  learn what we are truly made of. If I had to sum
  up what the COVID crisis revealed about the
  nature of the real estate industry, I would say
  it revealed a steel spine and a concrete soul!
  Real estate has shown remarkable resilience as an
  industry, and we anticipate a strong real estate
  performance in the coming year. Let us examine
  the trends, factors, and key ingredients that
  will drive the real estate market forward in the
  coming year.

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The king is the homebuyer.

• The coronavirus pandemic struck society as a
  surprise. While this resulted in an unavoidable
  and unprecedented slowdown in site visits, it
  also resulted in the human population as a whole
  suddenly realising the importance of home. People
  realised that their home is their first and best
  defence against the vagaries of the outside world
  when the entire world went into lockdown mode.
  People began working from home, and children
  began studying from home... Everyone realised
  they had new expectations and requirements from
  their home. They required more space, better
  planning, and homes that provided complete
  lifestyle solutions.
• The real estate industry responded spectacularly.
  And new projects were designed and launched with
  the changing needs of buyers in mind, with the
  home buyer at the centre of all planning and
  design. This, along with appealing schemes such
  as deferred payments, reduced down payments, EMI
  holidays, free house furnishings, stamp duty
  payment by the developer, and group discounts, is
  expected to continue in the new fiscal year.
  After all, the pandemic is not over, and the home
  buyer should take advantage of the incredible
  opportunities to secure a home that is tailored
  to his specific needs and made affordable due to
  all of the incentives.

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Low mortgage interest rates

• The Coronavirus crisis occurred during a period
  of historically low home loan interest rates. The
  Reserve Bank of India maintained its
  accommodative stance, keeping REPO rates as low
  as 4.25 percent. It had a direct impact on
  housing loan disbursements, and interest rates on
  home loans remained low.
• Most public and private sector banks' home loan
  rates remain in the range of 6.50-9.50, making it
  quite affordable for the middle class, which
  accounts for the majority of new home buyers in
  India.
• With restrictions relaxed and site visits
  resumed, the home buying trend is expected to
  pick up, and housing finance rates will remain
  affordable in the coming fiscal year. However, a
  word of caution to home buyers people are buying
  quickly, so your wait and watch policy may
  backfire your dream home will not wait for you
  for long there are far too many people who want
  it as well.

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Excellent Return on Investment (ROI)

• One thing is undeniably clear. Housing demand is
  increasing and growing rapidly. According to the
  most recent CBRE report, India Market Monitor,
  continued attractive mortgage terms and
  government incentives are propelling housing
  sales tremendously. Housing sales increased 46
  percent quarter on quarter to 50,000 units in the
  third quarter of 2021 (Q3 2021), and 86 percent
  year on year. As a result, despite the challenges
  and upheaval caused by the pandemic, the
  residential sector has demonstrated great
  resilience and will continue to soar in the
  coming fiscal year.
• As residential prices rise in the near future,
  this trend of robust and recovering demand will
  ensure a noticeable return on investment. For
  example, if a person invests Rs 1 crore in the
  real estate sector of any of India's top eight
  cities, an overall ROI of 25-30 percent can be
  comfortably expected.

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Price increases are unavoidable.

• The coronavirus's impact on the Indian economy
  was like a domino effect. In the construction
  industry, input costs have risen due to rising
  prices for fuel, steel, bricks, and cement, among
  other things. Input costs have risen by more than
  20 in the last few years.
• This fact is supported by the RBI's recent
  Housing Price Index, which revealed that the
  all-India HPI increased by 2.6 percent year on
  year in Q2 2021, up from 2 percent in the
  previous quarter.
• Furthermore, rising demand has resulted in the
  clearing and sale of ready stocks by major
  developers. This will also give the real estate
  industry an opportunity to raise prices. Experts
  believe that a 10-15 price increase is
  unavoidable in India's housing markets.

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Housing for Everyone

• The Pradhan Mantri Awas Yojana (PMAY), the Indian
  government's flagship mission, will be completed
  in 2022. As a result, the remainder of this
  fiscal year will be devoted to the implementation
  of affordable housing schemes and the provision
  of low-cost housing. Affordable housing
  developers will benefit from lower interest rates
  and other incentives. Furthermore, because the
  government is encouraging new housing
  technologies, which have significantly reduced
  the cost of housing units, the lower middle class
  to economically weaker section (EWS) of society
  will have more housing options.

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The ideal time to invest

• According to real estate analysts, now is the
  best time in a decade to invest in real estate.
  With prices at their lowest and a supportive
  finance mechanism, there should be no more wiggle
  room in the decision to buy. We must also warn
  that this rosy period may not last long, as once
  the market has fully recovered, prices will
  skyrocket, and homebuyers may have to pay up to
  30 more than current prices. If you've been
  waiting a long time, now is the time to invest.
• To summarise, the real estate market is booming,
  and market conditions are making it even more
  appealing. Waiting and watching was justified
  during the pandemic, but it is no longer prudent.
  Take advantage of low interest rates, lucrative
  schemes, and fantastic new designs to purchase
  your property. Make 2022 the year when you turn
  incredible opportunities into fantastic
  decisions!