4 Things You Should Not Expect From India's Real Estate In 2017

The year 2017 is likely to be an eventful year for the real estate sector. Authorities and developers both have joined hands to take the sector out of the slowdown that has been looming over the sector for a couple of years now. The new year is likely to bring winds of change that will help the sector regain its past glory and revive its potential. However, considering the changing times, there are things you should not be expecting from India's real estate this year.

Discounts galore

Data indicate real estate developers of the country have been having a tough for close to three years now. What has made matters worse for them are the various policy changes. Confused and flabbergasted, they are gearing themselves up to comply with the norms of the Real Estate (Regulation & Development) Act, 2016, and several other new changes. While their inventory stock and slow sales are likely to force them to moderate prices, you should not be expecting discounts galore.

Sudden falls

While the buyers remain in a phase of indecision at the start of 2017, the fog will lift post budget. The new year offers hope in the form of RERA and other moves made by the government which will ease the buying cycle in real estate. A new surge of buyers is to be expected but don't expect a sudden surge in property prices; or a doomsday like market crash. The real estate market in 2017 won't see sudden highs or lows and is expected to gradually steady itself.

Irrational profits

2017 may not be the year when you can expect to sell your five-year-old property for double the money. That could have been true earlier. At a time when sellers are under tremendous pressure to bring down property prices, gains of grand proportions might not be on the cards. In fact, this could be a trend that may be seen in India's real estate for many years to come.

Price free fall

After the Central government's demonetisation move, many predicted a great fall in property prices. While it cannot be denied that the sector is likely to see some price correction, expecting a freefall may leave you feeling dejected. Let us make it simple for you. Think as a seller. Would you sell your property which you think is worth Rs 50 lakh for Rs 45 lakh even if you are desperate to do so? Probably not. As for as buyers are concerned, they can rest assured that from hereon, prices will largely remain stable.