The trajectory of residential real estate is illuminating a promising path, evident through the robust expansion witnessed in the past three years. After the pandemic’s tumultuous impact, recovery has surged, and the growth curve has achieved a remarkable equilibrium. This transformation can be attributed to a synergy of factors instilling confidence and driving the sector towards new horizons.
One of the pivotal driving forces is undoubtedly the nation’s economic stability and proactive policies. These pillars lend developers the assurance to embark on ambitious expansion endeavours. Moreover, the prevailing buyer sentiment is uniquely optimistic, diverging from trends observed over the past two decades.
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A Glimpse into Growth and Trends
After the pandemic, individuals have redirected investments towards properties, whether to elevate their living standards, acquire secondary homes, or secure their future. This surge in property acquisitions has propelled sales and stimulated developers to unveil innovative projects to satiate the surging demand.
Additionally, India’s burgeoning business ecosystem has magnetised global players to establish their presence, consequently ushering in job opportunities and amplifying the call for residences. This synchronised symphony of factors has coalesced to catalyse ongoing growth.
Emerging Epicenters of Appreciation A Spotlight on Potential Markets
Bengaluru’s Eastern submarket emerges as a potent contender when contemplating the markets poised for appreciation. The Q3 period witnessed approximately 7,800 new unit launches, with a significant 43% emanating from the Eastern submarket, predominantly spanning the mid and luxury segments. This concentration clearly indicates the appreciation potential encapsulated within this region, inciting a steady demand surge. Similarly, the South and South-West sectors are rapidly ascending the appreciation ladder.
The Sarjapur Road district has garnered heightened interest due to its potential to evolve into the next IT hub. This augments the prospect of property appreciation in the vicinity, signifying a burgeoning landscape for real estate investment.
In Hyderabad, areas such as Gachibowli, Banjara Hills, and Kukatpally are significant hubs for property appreciation. The Mumbai and Delhi NCR regions also exhibit historically coveted segments for their high appreciation, drawing attention to luxury residences and projects.
Infrastructure as a Catalyst: Amplifying Real Estate’s Growth Trajectory
The symbiotic relationship between infrastructure and real estate growth is undeniable, underscored by numerous examples. The inception of new metro corridors in metropolitan cities like Mumbai and Bengaluru has already initiated a ripple effect, propelling the emergence of retail hubs, residential complexes, and commercial districts.
A prime instance is the Delhi-Mumbai expressway, envisaged to connect Gurugram with Mumbai, two pivotal business hubs. The real estate landscape is already being shaped along the trajectory of this expressway, which is poised to redefine connectivity. The allure of well-connected areas resonates with both developers and prospective buyers. Furthermore, infrastructural expansion fuels increased investments, extending a fertile ground for the real estate sector to flourish.
The Global Attraction: NRIs and the Indian Real Estate
The involvement of Non-Resident Indians (NRIs) in the Indian real estate sphere is gaining considerable traction, particularly within the luxury segment. The commercial real estate (CRE) domain has also seized the interest of NRIs due to its potential for high rental income.
Many NRIs, particularly those in Dubai, view Indian realty as a productive investment avenue. This heightened interest is attributed to the nation’s resilient economy and investor-friendly policies, fostering an environment ripe with opportunities for NRIs to accrue substantial value. Additionally, real estate is viewed as a conduit facilitating future returns for those yearning to maintain connections with their roots.
– The author is Founder & CEO, Property First. Views expressed are personal.
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