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As we near the end of 2022, real estate players would be keen to know what 2023 has in store for them in the housing sector. For investors, the real estate industry has been a safe haven to park their funds. This sector is not too volatile like stocks or crypto. In the last couple of years, there have been several ups and downs in the real estate sector.
2023 seems to indicate some positive developments for Indians as far as the real estate market is concerned. As the country recovers from the economic impact of the pandemic, they would have more funds at disposal. This is one of the direct reasons for them to channel their funds into crypto. Moreover, the ambitious government of India has been planning smart cities all over the country. With the development of new roads and other projects, a development of real estate is on cards. Many airports and metro projects are also on the way. Moreover, the government has come up with the Pradhan Mantri Awas Yojana and Housing for All scheme, which aims to raise the standard of living for the residents.
Experts reveal that home loan interest rates would also have an impact on the real estate market in India. the Indian government has rolled out several tax privileges where homeowners can save tax on the interest they pay on home loans. Moreover, they have other incentives to capitalize on when they invest in real estate. All these measures are further likely to streamline the purchase mechanism of properties in 2023. In the end, the booming real estate market would fetch you a handsome return in the coming year.
One of the most attractive asset classes is commercial real estate. With the leading IT companies getting back to the offline mode of work, investors would be keen to invest in these properties. At the same time, India is witnessing a rise in e-commerce business. These companies are looking for commercial properties like warehouses and godowns. Ultimately, the commercial real estate sector would be benefitting from the growing business infrastructure in 2023.
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