The New Trend in Indian Real Estate in 2024.
Delhi: To measure the growth of a nation real estate is the optimum parameter. Unlike the world, Indian real estate is growing at a steady rate. In 2024, we are witnessing a change in sentiment. People are on a buying spree and prefer to invest in homes.
Indian real estate is a thriving industry with a new building on the horizon. The constructions of new homes and office spaces have increased. This sentiment holds true for Metropolitans as well as tier 2 cities. Experts like Shravan Gupta, MGF Group firmly believe there are immense opportunities for development. Some factors may be responsible for this positive mindset. Amongst these the Middle-class factor is most essential.
In 2024, graphics suggest the rising income is responsible for the elevation in house sales.
The Middle class factor.
Some feel, middle class are the perfect target audience for builders. They are specifically making the houses for the rising middle class. In recent times, the need for investment has seen a significant rise. In 2024, more and more middle class are likely to invest in a new home. This may be due to factors like:
Rising disposable income.
People with surplus money prefer to invest in safe zones. In the traditional scenario, Investment in home is considered a safe and secure bet. Unlike the stock market, its prices will always rise. An investment in Home is right for someone who is looking to sell it in a few years with a higher return. This trend is likely to continue in a similar manner. This makes it essential to invest in homes and have a secure source of income and grow with India. This is a unique scenario visible in India only.
Apart from income, it also helps in saving taxes. In the current budget continued focus on the PMAY is likely to benefit new buyers. The houses will come at a lower price with enhanced perks.This is beneficiary to elevate the increase in housing demand in tier 2 cities.
The rise of start-ups.
Every day there are new businesses coming up. This has indirectly impacted the real estate commercially. New businesses have enhanced the demand for new offices. In 2024, the demand for neighborhood retail spaces is on the rise. It is due to the fact that people prefer to have malls near to home. Shravan Gupta, MGF Group believes this will boost the sale of retail outlets in small towns.
The startups need new offices hence there will be more construction in 2024. This holds true for metropolitans where new and smart office spaces are regularly coming up.
2024 is going to be the year of real estate. Hence, it is the right time to invest if you are looking for new home or office space. But it is important to learn and invest in the property. The overall future is very bright for Indian real estate. This is further boosted by these new opportunities on the horizon for every buyer.