WHAT’S TRENDING IN THE REAL ESTATE MARKET
NRIS EYE INDIAN PROPERTY MARKET AS A SAFE BET
A fluctuating rupee, and introduction of various regulations to bring in transparency and liability, is making real estate more lucrative for NRIs, experts say. The drop in rupee can be seen as an investment opportunity for individual buyers as well as institutional investors. This trend continues to grow stronger due to the timely reforms introduced that brought transparency and accountability in the sector. With the real estate industry estimated at about Rs 3 trillion annually, about seven to eight per cent of the inventory is being bought and held by NRIs each year.
Home buying is regaining traction and RERA has made it better and in a situation where property prices at primary level are down by 10-15 per cent, and the currency valuation adds another 10-15 per cent, it definitely is a scenario where the NRI buyer is back. NRI inflow into India will only continue to rise in the times to come. The expats will look into a range of property options from smaller units such as studio & 1 BHK to the larger units such as 3 & 4 BHKs.
Actual image of Hiranandani Gardens, Powai
GROWTH PROPELS TOWARDS COMMERCIAL REAL ESTATE
While the housing sector plummeted, the commercial sector is unaffected by the reformatory changes and has continued to outgrow the former. Foreign and domestic companies continue to invest in India’s skilled labour and business-friendly investment zones such as Hyderabad, Bangalore, and Mumbai by committing to large office spaces. The e-commerce sector is also likely to make significant contributions to the Indian real estate in the coming year.
Besides, many reputed online brands are focusing on establishing their brick and mortar stores to achieve an omni-channel shopping experience, which would further trigger realty momentum. Overall, the scope of commercial and office space provision shall only improve on the back of infrastructure improvement and e-commerce boom.
INCREASED ATTRACTION TOWARDS HOME AUTOMATION
