Real Estate in metropolitan cities: an outlook

Indian real estate always being a right destination to invest, offers a wide variety of options to buyers from all over the world. For developers, good locations with decent services are the key elements that every buyer seeks. This can help them reap impressive benefits once they are able to build properties with thorough research and updates about the current situation of market value.

Selecting and finalizing a property proves out to be a daunting task for most of the buyers, but the city that you have selected to invest in should be based on the economic drivers. A major catalyst in driving the real estate demand and purchase system comes from the affordability of any property.

Infrastructure also plays an important role in defining the structure of a city. For example, the major metropolitan cities such as Noida, Gurgaon, Mumbai and Bangalore are all attracting buyers because of their sprawling houses, villas and penthouses. This acts as a window to buyers so that they can get the first look of future possibilities in real estate.  It is by far obvious that the Residential property in India has been driving high on growth and is also expected to race ahead amongst all the other type of properties.

It is quite evident that Mumbai has been falling a little off the market due to the demands coming from cities such as Bangalore and Pune. Apart from international brands and reliable realtors, there are several other factors defining the current situation of real estate in the metro cities. Foreign investors have made their way into the Indian market and are now eyeing the most exclusive properties.  Therefore, to keep these types of buyers in loop, developers have been investing quite a lot of time and money to build properties that are best suitable for every kind of investors.

Urbanization has proved to be one of the biggest growth factors among realtors. People from different isolated areas are finding their way into the hustle bustle of big cities. As these successful cities are attracting more number of people, the cost of urban properties would continue to be on a rise. In order to use their present space efficiently, builders are using every ounce of it to their best advantage.

Talking about the next ten years of urban real estate, it would not be wrong to say that there will be a fierce competition between all of these metro cities. In order to make properties commercially as well as residentially viable, builders are going to use latest techniques and tactics to stay ahead in the competition.

One of the trends that has been picking up pace in the cities is that people are now looking to buy property with airy interiors. This means that they are eyeing areas with more open areas and connectivity with the other central areas of a city. Therefore, it is quite evident that this paradigm shift in the Realestate in India would be responsible for a new and completely redefined properties.  

A Sneak Peek into the Real Estate Sector of 2020

Although we are still in 2016, talking about the trends and scenario of real estate in the next five years will shed some light into the anticipated property in India. There are also various consultant firms and many research reports that have already been published quoting the most predictable developments of real estate sector. It has also been said that while there is a huge investment in this sector, approaching years are going to more fruitful than ever. After other sub-sectors such as agriculture and education, real estate is considered to be largest in the country.

Earlier this year, the Finance Minister of India proposed to extend the construction completion deadline from 3 to 5 years for getting tax breaks under Section 24. This benefit also came along with some of the terms and conditions for buyers. However, it would not be wrong to say that the government is also trying to bring about a change in the situation of real estate business in India.

Moving ahead, Smart City initiative, which has also been adopted by several cities is growing with a rapid pace and requires more development as of now. Expected to make a turnaround in 2016, the Indian real estate sector has a lot to offer. As quoted above, government initiatives will give a push to this business all across the country and prove out to be a tough competitor for foreign real estate projects.

A few of the projects such as Housing for All and AMRUT (Atal Mission for Rejuvenation and Urban Transformation) are also going to affect the economy in a better way. Also, the introduction of REITs (real estate investment trust) is going to make sure that there is adequate transparency in the projects that have been commenced recently.

Further to this development, the Reserve Bank of India (RBI) has slashed the rates of real estate significantly and the continuation of such inventions is going to affect the other half of 2016. When we talk about housing options that are affordable for majority of people, REDCO Haryana is setting an example for builders in different sectors.

The Smart City proposal was first established in Europe as part of the development process for citizens of the country. After that, this project has found a way to be introduced in other countries as well. Combining buyer’s demand of affordable housing with the rapid infrastructure and commercial properties, it became imperative for developers to look into the option of Smart City project.

With the beginning of all of the above mentioned initiatives and projects, realestate in India is going to look quite different by the year 2020. If builders are now opting for quality projects, then their life span is of almost 80 years. This means that if high-end quality projects are built within these five years, there would be a high demand of such properties in coming years. Thus, it proves that longevity of a building very much decides the fate of it and in terms of realestate property’s health is responsible for its resale value.