Bangalore is one of the most favored cities when it comes to real estate investment and houses stellar projects like the Provident Park Square. Ample job opportunities, IT parks, Sprawling landscapes, and amazing weather have all contributed to the growth of real estate in Bangalore. Projects like Provident Park Square offer best in class amenities at affordable costs.
Here are a couple of factors that shall impact the real estate in the near future:
1. Government initiatives:
The Government is coming up with the new policies and reforms to help build transparency in the real estate sector. One of the significant initiatives piloted by the Indian government is RERA act (real estate regulatory authority). Apart from this government has introduced GST (goods and services tax), Benami act and more reforms to boost the confidence and trust of the home buyers.
2. Growth of Tier II and tier III cities:
Government is increasing earning capacity and job opportunities for the masses. As a result, there is more demand for residential and commercial properties in tier II and tier III cities.
3. Increase in direct foreign funds:
100% of foreign investment has been approved by the government of India in the sector. Now, foreign nationals can acquire a property in India without the permission of RBI; this step is expected to create a better future for the real estate sector in India.
4. Development of new sectors:
Government is intending to create new sectors such as student housing, townships, plotted developments, etc. The new spaces offer a lucrative opportunity for investments and returns.
