Being born as Indians we can proudly declare our love for property. Property is an asset that has provided stability and assurance to our families over generations. It is only in the past few years that real estate in major cities of India has declined as a sector and left many of us to wonder what now?
Let us take a note of the pressing factors that affect Real Estate in major cities
The age, number, migration, income and growth of population is the data that describes demographics. There is more need for apartments in bigger cities as compared to bigger homes in smaller towns and cities.
When the economy slumps, so does various sectors and real estate is no stranger. It is largely sensitive to various factors like GDP, employment, Price of goods, manufacturing, etc.
GOVERNMENT POLICIES & INTEREST RATES
RBI has introduced various rate cuts on interests and thus loan rates have become more attractive. Few Government policies like RERA and GST have had a bitter-sweet effect.
Subsidies to affordable and small-scale housing schemes, PMAY (Pradhan Mantri Awas Yojana) and Tax benefits have had a very positive impact on the sector.
One of the most important factors that drive the real estate sector is Astrology. The Year 2020 adds up to number 4. Thus, Rahu is positioned strongly and will be in transit through this year. This will lead to a wide degree of sudden effects in various fields especially the speculative markets. The beginning of the new Independence year from August 15th, 2020, will be an additional powerful force. Combining with the numerology of the names of various big cities in India, the changes in the Real Estate sector will be different, impactful and quite visible. Numbers 1,2 and 7 are favorable in 2020 says Business Astrologer and Astro-Strategist Hirav Shah.
Growth in prices of real estate
Let’s have a look at the overall trend of growth in prices of real estate in major cities according to the Economic Times report and Mr. Hirav Shah’s predictions for the year 2020.
10.43% in Last 5 years | 4.94%Last 3 years | 3.31% Last 1 years
As per numerology, Delhi adds to 9 ruled by Mars, the planet of war and New Delhi to 7 ruled by the shadow planet Ketu. Mars is intense in its effect and Ketu also has a tremendous impact on human lives. Therefore, despite the declining trend in the past five years, the mindset of the consumers will show change from second half of 2020 when the new Independence year will start. The change will be more pronounced from 2021.
9.85% in Last 5 years | 8.43% Last 3 years | 3.46% Last 1 years
Mumbai is adding to number 9 which is ruled by Mars. As explained earlier this leads to quite an effect. The growth up till now has been promising and will continue to show better results through 2020. Although the 3rd quarter of this year will be most fruitful.
Chennai equals to the number 7, ruled by Ketu. Therefore, as in the case of New Delhi, the change will take time to set in. The second half of 2020 will show good results followed by a better 2021.
7.51% in Last 5 years | 5.71% Last 3 years | 7.80% Last 1 years
Bangalore has been consistent till now. It adds up to number 6 and is ruled by Venus which is unyielding by characteristics. Real estate in Bangalore will start giving positive results from the last quarter of 2020.
8.66% in Last 5 years | 8.04% Last 3 years | 1.79% Last 1 years
No doubt Ahmedabad has been disappointing in terms of real estate. But the slump is fading. Ahmedabad adds up to number 9 and is ruled by Mars. Returns will be better compared to last year and 15-20% of the overall growth will be seen in the 3rd quarter of 2020.
“Samay har samay ko badal deta hai,
Bas Samay ko thoda samay chahiye!”