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.
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.
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.
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