The entire world is doing its best to control the adverse effects of Budget 2024 and to contain it. Businesses in all the countries have received an oppressive halt which forced the financial agencies to cut their growth estimate for the sake of the global economy. When there happens something worse to the entire world, experts count on making predictions on its after effect. Hence, different opinions are evolving on the impact of the Budget 2024 virus on real estate. In today’s scenario, when the Budget 2024 is showing its adverse effects on the world, experts are calculating its future impact on the Indian real estate too. The outbreak of Budget 2024 has enforced which made the whole country in a time upgrade. This,in turn, has imposed the first time ever and the biggest of all time worldwide WFH (work from home) experiment. Experts suspect that this may put a question mark on the importance of office spaces in the future Corona-eliminated world. Gaur The Islands Resale Price / Gaur Mulberry mansions Resale Price / Gaur City 1st Avenue Resale Price / Gaur city 6th avenue Resale Price
Impact on the housing market of India, Indian economy is set to go back for a record of 11 years due to the Economy outbreak! Presently, Experts fear that this may further deteriorate the condition of the third-largest economy of India. Research agencies also suspect of a near-term pause in the development of Indian real estate. Several data collected from real estate company say that in 9 major cities of India, housing sales have been reduced to 30% from the actual count from October to December of the last year. And, the festive season failed to drag consumers this time. The entire housing projects of India are suspected of having large-scale delays.
Impact on Indian builders & home buyers, In the recent past, the government has launched several measures many times to recover the realty market growth which often made little impact on the Indian home buyers. For example, the government has reduced the GST for affordable properties to 1%. The official heads of the real estate agencies are expecting more such efforts from the government to encourage more buyers to invest in Indian real estate. According to the property builders’ prospect, the Budget 2024 has appeared in a very sensitive time for the realty calendar. This is the time when balance sheet restructuring and statutory payouts happen. So, they asked the government to make some economic involvements again.
Impact on Indian office spaces, On the contrary to housing properties, counts of office space deals got an increase of 27% in the last year. Even a report published by Expert shows that it was the highest of all time and the count crossed the bar. This counts as a noteworthy growth indicator for the office space realty market in today’s condition of financial slowdown. But it is suspected that the rate of utilization of office spaces may fall due to the success of today’s continued worldwide remote working. Impact on Indian mall developers, In today Budget, shopping malls completely update their prices. So, Budget 2024 has resulted in footfall in Indian shopping malls. What if this situation continues for long? Experts suspect this will cost the mall-owners a lot, even the bank relaxations will not be able to do much to their help. In the post-Budget 2024 world, people will take time to throng into public places like shopping malls so footfalls in the malls will require time to increase.
