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Effects of Demonetization on real estate sector

On November 8, 2016 when Prime Minister Narendra Modi, declared to the entire nation about discontinuation of Rs 500 and Rs 1000 notes from midnight, the whole nation was shocked from this revelation. There was chaos everywhere, as people started to panic about the effects of demonetization on day to day life. Long & never ending queues stood outside banks & ATMs. There have been mixed reactions of people to this decision by our PM due to the hardships it has caused to common people but majority of them have reacted in the most overwhelming way.

Demonetization – the biggest news of 2016!!

Though the real motive behind it was to abolish the black money & also eliminate the fake currency from the market. In the long run this will definitely help to stabilize the country’s economy and also secure our nation from illegal actions. The effect of it has been different of varied sectors. Obvious ones are; inflation will drop down drastically, which will lead to the reduction the prices of various goods & services. Bank will have more deposits which will reduce the interest rates on loans & eventually due to payment of taxes; the government will have more money to spend of infrastructure & development of the country.

The Real estate sector is one of the sectors that has got affected drastically due to this move. Let’s read below the effects of Demonetization on real estate sector:

Homes loans getting cheaper: With more deposits being done in the bank, the fund holding of the bank has gone up in shorter span of time. This in turn will decrease the home loan interest rates significantly. The expected rate of interest would be between 8% to 10% on home loan in the year 2017.

Transparency: Due to the introductions of RERA’s amendments and demonetization affecting this sector back to back, there will much transparency in the transactions as all the payments will be made in white.

More Demand: Since home loan will get cheaper, the demand for houses will increase as the purchasing power will be in the hands of the buyers. Also the unsold inventories may come down since demand will increase.

Opportunities of foreign investment: With improvements and transparency in the economy there may be room for more foreign investments in the sector.

On the various points mentioned above, the real estate developers in Pune had a different take on each. Aksha Group, having many new construction projects in Pune, was much happy with the effects of Demonetization and implementation of RERA. Their 1, 2 and 3 BHK flats in Moshi – Chikali, Pune are a paradise to every home buyer. Affordable, comfortable & various payment schemes for the buyer’s makes this group much loved and trusted developer in Moshi & Chikali, PCMC.

Smart Home for a Smarter You

Imagine you reach home after a tiring day and all you want to do is jump in your bed but you realize you forgot your house keys somewhere. It’s such a horrific and terrible feeling. Now imagine you come home after a tiring day, and just use your thumb impression or a pin number to unlock your door. The moment you enter the lights, the air conditioner and your favorite music starts automatically. Doesn’t this sound awesome? Don’t think this can happen only in foreign countries its very much happening in India.

Home Automation is new big leap that is making our homes, SMART HOMES.

This new technology is making our lives much easier and stress free. The internet is controlling almost everything. One App in your phone that entirely controls everything in your house. From lights to your water heater and even alarms you when anyone tries to enter your home in your absence. This system is very user friendly and can be operated by any person irrespective of their age.

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The benefits of integrating this automated system are too many:

It’s in full control:

The system is developed in such a way that it can be controlled by the user from any part of the world. Just at the click of one button across boundaries you can control electric appliances back home and others access to your house.

Saves Energy:

At this point of time, energy consumption across the globe is increasing and that’s the major issue we are facing. Automated system enables us to save energy by controlling our electric appliances like lights, fan, air conditioner and water heater at just one click on our mobile device. Even if you forget to put off the lights or turn down the water heater before you leave the house, it can be done through the mobile app installed in your phone.

Safety is in your hands:

The safety of the house is literally in your hands. You can lock and unlock your door through your phone. Threat detectors notify you if there is something fishy happening with the lock or records who came to your doorstep. The system also gives access to open the door for your maid who comes home when your already at work.

Customizable:

The functions of home automations are easily customizable. They can be adjusted & coded according to ones ease & preference. The house functions just the way you want it. You can choose when to function what & can be changed easily at any point of time.

Aksha Group one of the construction companies in Pune is also moving forward along with technology. We have new residential projects in Pune and many other upcoming 1, 2 & 3 BHK flats in Moshi,Pune.

The automation system is like a dream come true. We definitely are going to incorporate these technological advancements in our upcoming projects in Pune . As we are known to serve our customers with the best services.

Edge of living

Now a days the most trending feature for a residential project is the proximity and their amenities; Of course other than the economical rate of the area.

Many builders are simply planning to become the main and sole personality to develop budget homes. With the outreach of Pune being IT Hub, the construction of luxurious and leisure flats was initialized. That was the time in 2000 when many residential projects were built with 1, 1.5 BHK, 2, 2.5 BHK homes. As the saturation of the resources developed then along with homes, builders started giving amenities. The description of these features was unbelievably beautiful. From swimming pool to cricket pitch, there was so much that every real estate developer started acknowledging this trend. Now the habit has been such, that the flat area has been reduced from 2 and 3 BHK to 1 RK, or 1 BHK but the amenities space is always reserved.

Although said so, one of the best things for amenities in Indian residential projects is that they have been designed keeping in mind with the Indian habit and Indian necessities. Many builders are trying to bring that international edge by providing amenities and redefining the class of residences to luxurious projects. Amenities for not only outdoor features but the indoor infrastructure is the big bonus to who so ever is thinking to buy a flat.

Aksha Group has been constantly researching and redeveloping their projects to excel in every new residential township. Depending on the location and the necessary of the features needed, Aksha Group plans the resources such that every amenity is utilized at par and with best possible appreciation for its buyers. May it be a luxurious township like Amulyam or Swapnalok or a budget friendly society like Elegance or Empire, Aksha group sees to it that the amenities given to the projects are sound and maintained properly. Amulyam is a project with luxurious flats and much of an open space, therefore, Aksha has developed a cricket pitch for their buyer’s benefits. Similarly, elegance is a project that is mostly targeted for investment and professional lifestyle purpose therefore, they have made it a point to develop the internal infrastructure than the playfield.