“Year 2016 saw some landmark policies by the central government, one being the passage of Real Estate (Regulation and Development) bill aimed at reviving consumer confidence by improving transparency and accountability & provisioning of funds for faster execution. Other policies which played an important role in this sector were GST Bills getting passed, relaxation in REITs and a lower interest rate regime. Additionally governments move to curb black money by banning Rs 500 and Rs 1000 notes in the latter half of 2016 is going to have a soothing effect on certain residential markets in the country. Though it would be difficult for anybody to gaze exact impact of the same.
Increased developments in cities like Pune (also a smart city nominee) with emerging affordable hubs, expansion of commercial sector and presence of IT/ITeS industries led to an influx of employees leading to more scope for residential real estate properties. Buyers demand was strongest for the low-to-mid priced segment. . This year also saw an increased demand for completed and near to completion projects. There is a greater prominence than ever on word-of-mouth information, including online reviews. Customers’ expectations of residential apartments have also changed rapidly and they are very well informed making 2016 a buyer’s year.
This year also witnessed a rise in the commercial real estate market with a greater demand of grade A office space. With the market improving drastically from 2015, and witnessing improvement in the second half of 2016, predictions say that 2017, will witness a rise in the realty market, making it a profitable year.
2016 has been year of conceptualizing change in real estate and we foresee 2017 to be the actual year of transformation coupled with spot in business.”
About VTP Realty:
A Pune based business conglomerate, VTP Group, a leader in construction material and construction, is a 30 year old trusted company having a pan Maharashtra presence. The Group has grown to become the 2nd largest distributor of cement in Maharashtra. Along with its journey in Construction Materials, the Group has also ventured into other avenues. Five years back, building on the strengths of the group, VTP started real-estate development as a forward integration company with VTP Realty.
Over the years, VTP Realty has grown tremendously and has projects in all prime locales of Pune, building residential and commercial spaces in premium, middle-income and affordable segment, catering to each class of the society. With most of the project offerings and a special focus on delivering customer delight in the MIG segment, it aims to become one of the top 5 developers in Pune by 2020.
VTP Realty places great attention in building homes that ‘they (VTP) would be happy to live in’. After sales and CRM is of utmost importance at VTP and they go to such lengths as organizing and funding society’s cultural events / community building initiatives on site to bring people together and break the ice during the first 6 months. They also stand by their product and pride themselves on responding and remedying any snagging issues that occur, post possession of the property, quickly and thoroughly.
Below is a list of ongoing VTP Projects:
Do let us know in case you need anything else further if you plan to do any year ender stories on real estate.