The building sector, he says, has been observing a specific cycle of ups and downs each 10 years for the previous few many years. “The growth trajectory steadily goes up for 6-8 years and the next 2-3 years will see a dip. Then the growth trajectory starts moving up again.”
Due to many causes reminiscent of ‘demonetisation, implementing GST, Benami Property Act and COVID-19’, the actual property market is but to see a restoration path for six years now, a lot in opposition to the regular cycle of ups and downs.
Now that every one gamers have adjusted to the new atmosphere, Mr. Deshpande feels the Union authorities’s slew of measures for revival of the financial system will assist . “The initial shoots of growth are visible and we all have learned to live with COVID-19. The revival of the real estate market is imminent.”
Mr. Deshpande recommends that that is the proper time to purchase property, as costs appear acceptable and residential loans are simply obtainable at minimal rates of interest ranging from 6.7% pa. “This is the lowest offered in the past 15 years. It would be ‘advantage buyer’ as the time is ripe for investment. The gamble of selecting real estate asset now may pay rich dividends to investors in the next 4-5 years. After all only when people buy will the sector wake up from slumber,” says Mr. Deshpande.