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Real Estate-2022: How it Will Change and What You Can Expect

As a result of low mortgage rates and stable property prices, India's real estate market performed well during the pandemic, whereas real estate equities suffered from rising interest rates. Rising interest rates would dampen demand. India's real estate business is seeing robust growth in 2022, which is likely to last throughout the year. In 2021, the entire real estate market forecast looks good, from commercial to residential. Despite a pandemic threat, the industry remained resilient and grew steadily. Initially, the initial wave of Covid-19 in India brought the industry to a standstill. However, by the fourth quarter of 2020, it began to recover.

In other words, the real estate business bounced back well because of this. This is a favourable trend that began in 2021 and is expected to continue, with the year ending on a high note. Reports indicate that sales in the residential market increased by 65% over the course of a year, with low interest rates, flexible pricing, and offers that are appealing, boosting the sector and the business.

2022 is a significant year for real estate.

By 2022, the residential real estate market in India is anticipated to increase in capital value by roughly 5%. According to some forecasts, homebuyers will continue to seek larger homes, better amenities, and more competitive pricing. During this period of job growth, the commercial sector's recovery, combined with the flight-to-quality trend, is expected to keep rents stable in 2022, with a rise. Additionally, the luxury home market is expected to reach new heights in the year to come. The cost of purchasing a home is expected to rise significantly due to high rates of these raw materials such as steel, cement, and iron. As such, prices may still be relatively affordable for now, but it may be wise to purchase now, before prices go up even more. A few people that I've talked to say that housing prices will rise in the future, and that this has already been accounted for in some of the housing project's prices.

The Indian government has launched a variety of programs to promote real estate ownership. Measures in the Budget Speech are expected to have a positive impact on the Indian real estate market.

This Government intends to invest heavily in affordable housing as well as pursuing avenues for improvement. The Indian Government extended the deadline for the provision of dwellings to all rural families to 2024 during the first week of December. As a result of a resolution from the Cabinet, INR 2.17 lakh crore was approved in additional central and state money to the Main Rural Scheme, the Pradhan Mantri Awas Yojana-Gramin, with the goal of building 2.95 crore houses.

The Indian real estate sector, with a projected $1 trillion market size by 2030, will make up 13% of India's GDP. Previously a key driver of the economy, it is projected to keep growing in 2022. In the real estate industry, too, frameworks, legislation, and structures like RERA - the Real Estate Regulatory Authority - have sprung up to offer home buyers more transparency.

In 2022, the real estate sector is experiencing a positive trajectory, with a rise in the sale of residential properties and commercial establishments. We are already halfway through the year and hope to see the same growth through the year's end.

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