“Even as investors still look at market cautiously, end users will continue to benefit,” says Magazine. But will investors get the same 20% CAGR returns, starting 2018? “When rate goes up, the percentage of returns has to decline. Something that went from 10 to 100 can’t go from 100 to 1,000 in the same time. The appreciation we saw in the past was significant. Now, as the economy matures, you can’t get the same returns,” says Magazine.
“By 2020, the mid and premium segment too should see a recovery,” says Jain of Tulip Infratech. Should investors then wait some more? “We may not see a scintillating market recovery in 2018, but whatever growth we see from here will be sustainable and backed by stronger market fundamentals than ever before. The days of speculative peaks and troughs are safely behind us,” says Anuj Puri, chairman of Anarock.