Average property prices in the top 10 most active micro-markets in India has remarkably increased from 6 to 11%, all in a period of 3 years. Post the triple tsunami since 2016 onwards – demonetisation, RERA and GST – the price rise is phenomenal. Apart from Thane, MMR’s Panvel and Dombivili have also seen a considerable price rise.
It’s also noteworthy here that as per recent statistics, wealth of top 100 Indians in the real estate sector has gone up by 16%. Mumbai accounts for 6 of the top 10, and 37 of the 100 names are residents of Mumbai. Interestingly, established real estate players are registering a strong performance in adverse current market conditions.
2019 has witnessed Indian real estate facing multiple challenges by and large, which includes everything from a slowdown in economy to funds crunch to an on-off demand. However in spite of all odds, Indian real estate is set to a transformation owing to several factors. In times like these, a few changes are bound to happen. At the forefront of these changes will be the leading developers with proven expertise, a credible brand and sufficient funds to innovate and inspire. Benefits of FDI cannot possibly be ruled out here.
Global conglomerate Risland’s maiden project in India, The Icon in Thane, is a gateway to futuristic smart living concept. With an advanced construction technology and unique lifestyle amenities, the brand imparts an experience of its core expertise of building a smart future for residents.