5 Trends Crafting the Future of Residential Real Estate in India

1. Rise of Low-Density Housing:
The demand for low-density housing, including villas, townhouses, and plotted developments, is on the rise. This shift reflects a growing appreciation for sustainable living, privacy, and harmony with nature. Developers are responding with meticulously planned projects emphasizing open spaces and exclusivity, meeting the needs of a new age group seeking a higher quality of life.
2. Technological Integration:
The integration of technology is revolutionizing the residential landscape. Smart homes, equipped with IoT devices, home automation systems, and AI-powered assistants, are becoming the new standard. The projected revenue in India’s Smart Home market is expected to reach US$6.5bn in 2024, making India the third-largest market globally.
3. Increased Preference for Homeownership:
The Covid-19 pandemic has sparked a notable transformation in societal perspectives, with an increased preference for homeownership over rental arrangements. This shift is driven by a heightened awareness of the intrinsic value of owning a home, providing security and stability in uncertain times.
4. Luxury Housing:
Premium and luxury housing have become focal points in the real estate market, driven by changing demographics, technological integration, and rising income levels. Millennials, attracted by high returns on investment and significant rental income potential, are contributing to a 130% increase in the sale of luxury homes in India.
5. Tier 2 Emerges as a Strong Player:
The aftermath of the pandemic has led individuals to reevaluate their living spaces, resulting in Tier 2 cities emerging as strong real estate hubs. These cities, witnessing rapid infrastructure expansion and government support for smart cities, are experiencing a surge in investment activity.
Source:- Times Of India

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