Top real estate developers from across India took part in the ‘Indian Property Show’ in Dubai; which was held for the benefit of NRIs living in the UAE - to convince them to take advantage of the post-demonetisation price drop and new RERA rules, and start investing back home. The three-day show hosted top real estate companies across India, and showcased thousands of properties ranging from apartments, villas, row houses, plots, and commercial properties.
NRIs have welcomed RERA’s new rules with open arms, as all the big builders are now adopting 100% cheque payments and committing to delivery deadlines on paper. This, along with the recent wave of demonetisation has improved customer sentiment about the industry and the real Estate sector is already reporting higher transactions than it has in a very long time.
As was expected, the most significant benefit of demonetisation has been the spike in liquidity in the banking sector. The ready availability of funds will go on to lower the rate of interest across all kinds of loans, which in turn will give a boost to real-estate demand. According to Dharmesh Shah, Vice President-Head Residential Sales and Marketing, Adani Realty, home loan rates will probably fall to as low as 7-8 percent, and players who conduct their businesses with integrity will flourish. NRI’s on the other hand, will get to cherry pick from among the highest branches of projects by leading developers; and retain a piece of their Indian legacy.