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REALTY ATTRACTION: BOOSTED BY NRI INVESTMENT


After the demonetization drive in November, the real estate sector was left in the ruins as the worst casualty of the cash ban. But you will be surprise if we tell you that the S&P BSE Realty index, the barometer of the real estate sector, has actually delivered 14 percent return so far in 2017 and is up nearly 2 percent since demonetization. 


The Budget announcements clearly indicated that the government’s focus on improving affordability of homes will benefit end-users, which would result in significant increase in housing supply in the secondary market. 

But the finance minister offered hope to the sector as he announced infrastructure status to affordable housing in the recent budget. Stocks of real estate developers, banks and housing finance companies moved higher from their previous lows on domestic bourses in the first week of February. 

In 2017, total NRI investment in realty in top eight cities is expected to touch $11.5 billion. This will represent 20 per cent of total market share, currently estimated at $60 billion. Infrastructure status to the sector will help affordable home developers to access cheaper funds from big institutions such as insurance companies and pension funds. 

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