MD, 360 Realtors at VJ Partner Connect Conference 2017 as Panel Speaker

GURGAON, India - Oct. 17, 2017 - PRLog -- The VJ Partner Connect 2017, Pune was attended by VJ's associates and witnessed leading industry experts from banking; real estate, and advertising sectors, as well as policy makers from PMRDA come forward to discuss the impact of Real Estate (Regulation and Development) Act, 2016, RERA which was implemented on May 1, 2017.

This year's VJ Partner Connect Conference 2017 was on the theme of 'Growth for all'. Managing Director of 360 Realtors, Mr. Ankit Kansal, was a special invitee as a panel speaker at the knowledge-packed VJ Partner Connect Conference 2017 held on 27th July 2017 at Hotel JW Marriott, Pune.

Talking about the real estate sector Mr Ankit stated that, "As far as the demand in the market is concerned there is a big mismatch, from what the market needs to what the supply is available. Balancing the demand and supply in real estate is one of the key factors for growth of the real estate sector".

He added that, "Affordable housing is the sector which has the maximum demand, whereas the supply is the least. The government has taken a lot of initiatives like 'Housing for All', infrastructure status, as well as benefits like exemption from GST, to support affordable housing and bring in more inventories. This area needs more to get a balanced demand and supply".

"Things like dedicated economic corridors and Mumbai-Delhi industrial corridor is going to spur demand. With mega townships coming in these areas, this will lead to a robust demand for property in these areas. By getting the right balance in demand and supply gaps, the sector will see a positive change. Further changes in economic policy will lead to higher demand as well as make the supply smoother", he added.

There has been a radical change in the different real estate sectors. There are three segments for high income group which has a lot of surplus. In affordable housing there is high demand and low supply, with the major challenge being the high cost. The only way the Indian government can match the supply and demand in this segment is by buying the land and giving it to developer to build affordable housing.

Mr Ankit Kansal further stated that, "Middle segment has a reasonable volume and has enough margins to make the commercials work. There has been a drastic change in the middle segment with the prices coming down from Rs 1 crore and above in cities like Mumbai and Gurgaon, to more launches between INR 55-75 lakhs".

Speaking about GST, RERA and Demonetisation, Mr Ankit, added that, "Though in short term there has been a dent on real estate market, with new launches completely stopped, developers not being able to do advertising, etc., the market will witness a complete turnaround with builders passing on the benefits of GST to the consumers. This will lead to a boom in the real estate sector. Though GST initially created a lot of confusion among builders and buyers, in the long run the initial teething issues will clear and the market will see a turnaround".
He added that there is high demand from Tier 2 and Tier 3 markets for the big cities. "This is one of the few investment markets, with a number of people aspiring to move to big cities. Regional level investment in smaller cities is not happening right now, and people find it more secure to invest in big cities. Money from these smaller cities is coming and is spurring the demand in bigger cities. RERA and GST didn't have much impact on this segment".

"GST is trying to curtail the black money, and with the growing demand from smaller cities with people wanting to move to big cities from smaller cities, for investment and job opportunities, so it's unlikely to have an impact on the real estate market".

VJ Partner Connect 2017 is a signature annual event organised by Vilas Javdekar Developers to felicitate the achievements of their business associates, and also provide a platform for discussing industry trends, market, networking, and more.

Incorporated in 2014, 360 Realtors LLP is India's leading real estate company which has a rich experience in real estate advisory services and believes in providing the best and transparent real estate experience for buyers and investors.

For more Details visit: http://www.360realtors.com/

Also Visit: Managing Director, 360Realtors at VJ Partner Connect Conference 2017 as Panel Speaker : https://www.youtube.com/watch?v=Jxzc7FQRL3w