Imperia Structures shares its Review: Impact of purging Black Money
The Centre’s move to eliminate black money is showing encouraging signs in the revival of residential real estate. Leading realtors like Imperia Structures, and research firms believe that the steps taken by the government are already helping in the revival of residential real estate.
Imperia Structures have reviewed that there has been an increase of 6 per cent in the residential sales across top 8 cities in the second quarter. Recent reports have showed that the woes of demonetization have been shaken off by the residential sales led by affordable housing.
The Mumbai Metropolitan Region (MMR) has constituted 24 per cent of the overall sales in big cities. This is also the highest sales figure the region has clocked in the last 7 years. With these developments, things are looking bright for the builders as well.
The government granted infrastructure status to affordable housing segment in the Union budget 2017. Under the Pradhan Mantri Awas Yojana, PM Narendra Modi had announced to provide interest subvention of 3 per cent and 4 per cent for loans of up to Rs. 12 lakh and Rs. 9 lakh respectively.
According to the reviews of experts at Imperia Structures, home buyers have shown interest in buying houses. They are keen not only because the interest rates are lower, but also the property rates have remained idle from a long time.
Supplying numbers are easing due to slower pace of new launches while the sales have been improving. Inventory levels across big cities have decreased to 44 months in the June quarter from 47 months in the previous quarter.
However, prices are still likely to remain low which is going to help in improving the sales volume. Affordable properties are priced below Rs 25 lakh across 8 cities contributed to 17 per cent of overall sales compared with 16 per cent in the previous quarter.
The Mumbai Metropolitan Region (MMR) recorded the maximum number of sales in the affordable category at 24 per cent of total sales followed by Pune at 22 per cent. Imperia Structures, a well-known real estate developer, believes that the time of full-fledged revival of real estate has finally arrived.