Real estate is one of the most important
sectors contributing to the GDP growth of India. Presently the sector is facing
major transformations due to the introduction of new reforms and initiatives by
the government. The amplified urbanization and infrastructural development have
pushed the demand for the housing sector. Builders are welcoming the latest
trends and facilitating buyers with skilfully designed housing options. These
trends are gradually making waves in the residential sector and giving a new
definition to comfort living.
Below are The Trends Shaping the Real Estate Industry:
Demand for luxury projects
Millennial are investing at an early age
and focusing on luxury living. They look for various amenities and comfort
within reach. Builders are focusing on mindfully creating projects that are
matching international standards and meeting the requirement of the young
generation. Flats in Panchkula, Zirakpur or Punjab are
setting high standard when it comes to luxury homes at affordable prices.
Technology and home
Along with high-end amenities, houses
today focus on automation and technology. From appliances to security,
everything is automated and could be controlled centrally. The concept of the
smart house has recently originated and changed the outlook of buyers and
builders. A tech-savvy home is the first choice of buyers and need of the hour.
Online presence
Real estate is no more dependent on
physical visits. The online presence of builders and their projects has taken
over the real estate sector. From detailed project specifications to a
360-degree view of the projects, websites of the real estate brands are
offering a detailed description of their properties. A virtual tour is a
budding trend taking the real estate sector by storm.
NRI Investments on rise
With government support, making
investments in real estate is now easier especially for NRIs. Foreign direct
investment routes are now open more than ever for all segments. This trend has
not only added to the growth of this sector but also made India the favourite
destination for real estate investment.
Sustainable living
With the effort to reduce carbon
footprints, today’s generation is being more cautious towards sustainable
living. The growing demand of wellness features like green spaces, lush green
surroundings, solar panels and rainwater harvesting system has made a
sustainable living as the newest trend in the real estate industry.
Read Here: AreYou Choosing The Right Neighbourhood?
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