Gazing at the Next 5 Years of Indian Real Estate Business Prospects

Real estate industry needs no introduction as it is an already functioning domain of business, which is well-known for its constant growth. Real estate India is quite demanding due to the country’s unpredictable pattern of growth, which is also makes the business a dicey one. Among all such aspects lies the fact that regulatory and economical changes in the past few years have contributed to the ongoing advancement. Therefore, the market is expected to witness a turnaround in the next few years, preferably a positive one.

In order to understand India’s development process in detail, it is important to go through the factors that have contributed in the overall process.

Affordable housing to become lead player

The mid-segment also known as affordable housing structure has gathered a lot of appreciation over the past few years. The reason of this success lies in the fact that people moving into big cities with rapid urbanization are shacking up in affordable homes. Proposed and conducted by National Housing Bank (NHB), there is a thorough planning by government to ensure cost effective housing options for everyone who is looking to buy a home in the city. Irrespective of the location, these measures by government is a great way to introduce a legalized form of business transactions.

Smart Cities program by government

The Smart Cities plan by Indian government is an initiative taken to make each and every city a developed one. This scheme is fully functional right now also helping in the growth of the country by making sure that every area has a development plan. Planned with an idea to work towards the expansion of at least 100 cities, this program has been acclaimed because of its futuristic vision. Basically a smart city caters to the growing needs of an urban city to become a self-sustaining location with an ecosystem of advanced social and infrastructural changes.

Commercial real estate gearing up

With the help of such measures being taken, another segment of real estate is gaining limelight because of its rapid growth in the industry. The commercial real estate has become quite important soon after the announcement of Smart Cities program in India. This has happened due to the fact that these developing cities need a smart infrastructure in the form of commercial as well as residential real estate. The need of attractive office locations has increased making this segment an appealing choice among investors.

High occupancy level in all of the segments of real estate has made it a market with uncountable aspirations. Market researchers have found that buying properties in India has become quite affordable due to which there are many buyers who are not shying away to invest their money. Therefore, builders are now tweaking their development models to enhance the current scenario of real estate market of India. This will not only give them an edge over the competition but is also going to help the overall real estate business of the country.

Being a tricky industry, real estate has quite a handful of challenges for itself. An industry marking the development of the country, realty segment is being expected to build India’s revenue model with the help of continuous investments.