Year 2014 – Will it swing the mood of Real Estate Industry???

New Year is around the corner, just few more days to go. Many industries in India are optimistic about the New Year. Automobiles, Retail, Airlines and above all Real Estate are keeping its fingers crossed about the swing in demand mainly from the residential segment. Due to recession in the economy, Real estate industry dropped to the lowest levels. Many projects got halted in between due to insufficient funds at the builders’ end. Job security in this scenario is also a major concern mainly for the middle and upper middle class people therefore they are in no mood to park their money in investments where large chunk of their pocket savings are required. But, now scenario is changing slowly and slowly, a wave of optimism is there. Companies are declaring pay hikes and sentiments in Real Estate industry are also optimistic  be it real estate in DelhiNCR or any other part of India.  Many new projects by reputed builders are there in the market. People are keenly looking forward to projects like Prestige Tranquility in Bangalore and new projects of NK Realtors.  Hope to see some relief from banks also on the home loans side so that middle class people can easily think of buying their homes. Foreign direct investment if allowed in Real estate will also help the builders to arrange funds at low interest rates which may help them to bring down the costs. Buying a home is always a dream of a common man since ages in our Indian culture. Our government should also take some steps and bring reforms so that builders must construct homes that can be affordable to a common man. Some initiatives have already seen at the rural level but for cities also affordable housing concept should be launched so that many dreams can be fulfilled. I am keeping my fingers crossed to see the Real Estate Industry coming back with a boom and hope all of my friends will be able to buy their dream homes this New Year.