Palakkad Real Estate Market Dynamics

Investing in real estate is not the same as purchasing a property for personal use. There is a very different strategic approach required for real estate investment. To make a good real estate investment in cities like Palakkad, it is very important to be thoroughly aware of the industry, opportunities and market dynamics.

The union budget of 2019 was very much focused on affordable housing. Infrastructure has stayed at the top of the government’s agenda this year. The government announced various tax benefits as well as policy reforms in the real estate sector. The predicted increase in demand for affordable housing due to the new union budget is increasing the investments in real estate.

The boost in affordable housing in both rural and urban India, due to the PMAY scheme along with the recent tax breaks certainly make real estate an advantageous sector. The real estate investment in cities like Palakkad is bound to increase following the ongoing policy reforms as well as the new budget.

There are several budget houses and villas for sale in Palakkad that can be a great investment option for you this year. However, it is important to analyze the market trends of 2019 in real estate in Palakkad first, to understand the profitability of the investment.

Rise in Demand

The sales and demand for real estate have picked up across the country. The year 2018 saw rise in house sales by almost 8%. This, as predicted, led to the rise in the property prices in metropolitan cities. However, a more surprising rise in demand was seen in the new micro markets. Due to infrastructural and economic development, a steep rise in demand for residential homes in cities like Jamshedpur, and Palakkad has taken place in recent years.

Real estate experts have predicted an increasing trend in the demand for residential properties in micro markets in 2019 and 2020. Increasing industrial and economic growth coupled with the tax breaks that accompany the new union budget could further fuel the increase in demand. All of this suggests that investing in real estate in Palakkad now could yield a lot of profits soon.

Real Estate Reforms

Since real estate is a major contributor to India’s GDP, several progressive reforms have taken place in recent years. The impacts of these reforms have been observed in 2018 and 2019. Reforms like GST and infrastructural status given to the affordable housing properties has led to thrust in affordable housing as an investment option.

The government’s plan to provide affordable housing for all by the year 2022 has also led to an increase in the demand for low-cost homes. Several government initiatives with the focus on affordable housing and infrastructural development as laid out in the new union budget plan will surely make real estate business a growing industry.

Investment Trends

Real estate markets in India have attracted investments worth 30 billion dollars in the last 10 years. Real estate is estimated to contribute almost 13% to the Indian GDP by 2025. India has received high equity inflows and foreign direct investment in the real estate market. These investment trends show that now is a great time to invest in real estate in cities like Palakkad. Several builders like OMG properties provide budget houses and villas in Palakkad.

Simplified process for real estate investment in Palakkad

The Kerala govt. encourages real estate investments by developing legal frameworks conducive to such investments. The laws governing real estate business in Palakkad are not very complicated. This helps investors in their legal understandings of the business.

Kerala government has also allowed all the real estate formalities to be completed online, which again is a huge driving force for the increase in real estate investment in Palakkad. All the steps to complete the real estate investment process are rather simplified. Palakkad also has several real estate agents that can help you in your investments, even if you are from a distant place.

Financial Support

The banking systems, as well as the non-banking financial companies, offer various financial support schemes for real estate development in Palakkad. The schemes do not have any complex terms and conditions attached to them making them easily accessible for an investor.

The financial support system is also extended to buyers who do not belong to the area. This makes real estate investment rather easy and could be a driving force in the rising demands.

Increasing Employment Opportunities

It is believed that there is going to be a rise in the employment opportunities in or around Palakkad, in recent years. Increasing employment opportunities also mean increasing demand for affordable housing. The sale prices for the real estate properties in Palakkad are also expected to go up very soon.

Growth and Development

Palakkad has a lot of tourist destinations around and therefore the housing facilities are not only going to serve long term residential purposes but can also be used for short term renting. Since various industrial development projects are going on, affordable houses for the employees will be in demand.

The phase of growth and development make Palakkad a very good investment decision as of now. The property value is going to shoot up soon. Resale of these properties after a few years could be very advantageous. If you are looking for investing in real estate in Kerala, then Palakkad is an excellent choice.

Focus on Tier II and Tier III cities

Since the top tier cities are already overcrowded and economic opportunities are getting difficult, the focus has shifted to cities like Palakkad. The tier II and tier III cities are emerging as major players in the real estate sector. These cities have several new opportunities and are affordable to the average Indian.

Buying a house in Palakkad is also easy because of the several ongoing housing projects. OMG properties are a major player in the real estate market in Palakkad, providing several opportunities for investments.

Palakkad being in a nascent stage of growth and development boasts of several opportunities in the real estate market. The sale prices are bound to shoot up, once the urbanization process is complete. The year 2019 is a favorable year for real estate investments in Palakkad.

OMG properties offer various kinds of houses and Villas in Palakkad, which are in the market for sale. If you are trying to invest in real estate in Palakkad, buying the houses offered by the reputed OMG properties is bound to bring you profits. The real estate industry experts of our country have optimistic predictions about the real estate business in India. So if you have been planning to invest in real estate in Palakkad, now seems to be a great time to start.