How Demonetisation affected the Sentiments of Home Buyers when RERA Intends to Boost their Morale?

On the night of November 8, 2016, when PM Narendra Modi announced the ban of Rs 500 and Rs 1000 notes, the impact of this decision was scene in several sectors. The temporary shortage of cash impacted several sectors that largely do business on cash; this also included the real estate sector.

The demand and supply of home buying and selling has affected temporarily, but not permanently.

Builders especially established ones do keep their records clean and so the circulation of black money is almost nil. Real estate developers like Omkar who have a good grip in Mumbai do not fall under the negative impact of demonetisation due to clean records. One of the best practice of Omkar is the transparent process and it starts in the very first step when the interested buyer need to fill up an Expression of Interest and the payment process is digital.

Though the demonetisation has affected the sentiments of buyers, but the inclusion of RERA has maintained the morale in some preferred properties.

RERA - Improving Buyers Sentiment:

Real Estate Regulation & Development (RERA) Act which was released in 2016 is drafted to boost the morale of home buyers and enhance the credibility of builders. The main aim of this act is to eliminate the disease of late or no property possession and inaccuracy in delivering the project to home buyers. You as the home buyer spend almost half of your life in managing to collect money and get satisfied. Once you get satisfied with your wealth, you step ahead in investing in the right property that can yield long term profit.

Investing in the right residential property is a wise decision, and the project that falls under RERA is a complete investment which you can have. For home buyers, planning to invest in residential property in city it is the right time to take the step. However, carefully evaluating the project, negotiating a good price and shortlisting the project is also important.

Investing on your Dream Home:

As mentioned above, as a home buyer, you decide to grow your wealth by investing in a right home. If you're a Mumbai based home buyer than investing on property by prominent real estate developer like Omkar is right investment you can have. The company is really offering home for both luxury and budget home buyers. From 20 million sq. ft to 40 million sq. ft land development, the group has transformed the city landscape completely.

Omkar is introducing large project near Andheri Western Express Highway offering not just a home but a lifestyle. It is a path-breaking pre-market opportunity at one of the most sought-after locations in the western suburbs of Mumbai and just few mins from the airport (International and National) and metro (existing and upcoming). Innovatively planned 1, 2 & 3 bed boutique residences will offer breathtaking views of manicured & landscaped courtyards, the city & the urban infrastructure across the development. These residences come along with 30+ luxury & lifestyle amenities, convenience shopping & much more. An array of international & hospitality partners ensures a lifestyle, way beyond your aspirations. And the part of the project is RERA registered which you would expect from them.

WHY ANDHERI?

• It is one of the most developed suburbs in Mumbai and the credit surely goes to its connectivity. Both East and West zones of Andheri have a great demand for residential properties. "Andheri East is of the most promising location in the Mumbai’s real estate market. The northern suburbs along the Western Express Highway are looking better in terms of residential demand. This is an ideal time for end-users and long-term investors, to make their move" - Ramesh Nair, CEO & Country Head, JLL.

• Centrally located across two major business working hubs of Mumbai i.e. BKC and Powai (Service sectors represented by BFSI, Consulting and Media), completes the ecosystem of a residential space within vicinity of a working hub.

• Andheri-east area is famous for the numerous offices at SEEPZ and MIDC. It is a hub for several office goers, and also offers easy connectivity to the other office hubs in Mumbai like Vikhroli.

• The most attractive thing for NRIs or people who are not used to long intra-city travel, thanks to the international exposure, is that Andheri is extremely close (5kms) to the international airport of Mumbai (Chhatrapati Shivaji International Airport).

Some of the current real estate projects in Mumbai by the group are - Passcode - Andheri Highway, Omkar 1973- Worli, Omkar Alta Monte- Malad East, Omkar Meridia- BKC and few others. Each of their projects is registered under RERA act, giving full confidence to buyers like you to invest in your dream home.

With such prominent real estate developers in city and RERA act, home buyers are really gaining confidence on property investment.