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Current State Of Apartments In Bhubaneswar, India
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The real estate market in India is currently in the midst of fairly challenging times. In the last few years, there have been a few noticeable macro shifts that have challenged the realty sector.
The demonetization exercise in November 2016 put brakes on the growth of the real estate market as it made the rampant use of cash in real estate transactions more difficult to track. The Real Estate Regulation Act (RERA) that was passed by the Centre in 2016 and most states in 2017 put a lot of onus on builders which further halted new offerings in the residential space. Several Apartments in Bhubaneswar are in stand still after demonetization
In addition, the demand-supply gap has been an issue with most of the key real estate markets such as Mumbai, Bengaluru, and Bhubaneswar facing a serious oversupply of flats in Bhubaneswar. However, the big funding challenge came in 2018 after the IL&FS fiasco.
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