Looking back at 2019's Real estate sector
Anuj Khetan, Director, Vijay Khetan Group shares his thoughts with Realty+ on the year gone by. The year 2019 has been a roller coaster ride for the realty sector with the developers understanding the preferences of the homebuyers and altering the supply accordingly. The metropolitan and large cities in India have several real estate micro-markets that are reasonably priced and offer good returns for end-users and investors alike. The Co-living and rental apartment in Mumbai is in demand for evolved housing solutions coming from millennials, students and young working professionals. Therefore, such trends will remain the flavour of the season for next few years to come. Speaking of Mumbai MMR, extended Western Suburbs such as Andheri, Jogeshwari, Dahisar, Kandivali, and Borivali saw the maximum influx of new projects. While in H1 2019, ready-to-move-in units ruled the sector, the second half of the year saw under-construction units driving the market. However, homebuyers’ preference experienced a significant shift in Mumbai. However, we expect 2020 to be more stable and propel real estate growth. We anticipate that gradual recovery will speed up with more fence-sitters converting into actual buyers.
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