Impact of Government Policies on Real Estate Consumer Buying Behaviour: (With special reference to RERA & Affordable Housing)

Author:S.K.S. Yadava*, Renuka Itoriab

Abstract:
The real estate sector in India assumed a greater prominence with the liberalisation of the economy, as the consequent increase in business opportunities and labour migration led to rising demand for commercial and housing space. At present, the real estate and construction sectors are playing a crucial role in the overall development of India’s core infrastructure. The real estate industry’s growth is linked to developments in the retail, hospitality and entertainment(hotels, resorts, cinema theatres) industries, economic services (hospitals, schools) and information technology (IT)- enabled services (like call centres) etc. and vice versa. This study is related to Real estate industry in India. Heightened realization on the part of all stakeholders that infrastructure would play a key role towards pushing India’s GDP to the desirable 8 percent mark has come as a boon for India’s construction industry. This study was basically concern with consumer buying behaviour towards residential properties. The basic objective behind carrying this study was to study the impact of Government Policies on consumer’s property purchasing behaviour i.e. (Residential) of different types of customer in different area in NCR, to study the various factors affecting the customer-buying pattern especially in case of residential properties and to search out whether Government Policies will encourage a consumer to buy real estate property and to see whether customer’s are getting confidence through this new regulatory body which is going to regulate the industry.

Keywords:Key Words: Real Estate Industry; RERA; Affordable Housing & Consumer Behaviour.

DOI:

International Journal of Trade & Commerce (Vol: 8 Issue:1)