- Date : 28/11/2023
- Read: 3 mins
Planning to buy a house? Don’t miss out on the latest real estate trends. These trends are set to define how homes will be built and bought in the days ahead.
20 years ago, amenities like a swimming pool, 100% power back-up and security deployment were seen as eye-catching features in real estate developments. Flying back to the present day, we can see that these are no longer real estate trends, but basic norms.
Real estate as a whole could contribute 13% of GDP by 2025
Green building material market is expected to grow at 11.2% in the next 10 years
Affordable housing market in India is valued at Rs 4 trillion
So what are the things you need to look for while buying a house, and the innovations introduced by developers? Let’s find out.
Emerging Real Estate Trends For 2024
Here are the real estate trends in India that can take real estate growth to new heights.
While visiting a to-be-developed real estate property, you may find nothing but an empty plot and some blueprints and brochures. Not anymore! Developers are presenting digital home tours through the use of technologies like Virtual Reality and Augmented Reality. You get the immersive experience even before buying a house.
On the one hand, local governments are handing out eco-friendly construction guidelines. On the other, developers are highlighting green buildings, energy-efficient homes and other eco-friendly practices in real estate development. There is a rising expectation among home buyers for reducing carbon footprints in the property market.
Modern amenities also inlcude fitness and recreational areas, expansive landscapes, co-working spaces, housekeeping, food courts, sports facilities, and all the luxuries you can think of.
Moving out to the suburbs
With civic infrastructure improving in satellite regions, metropolises are spreading out to the suburbs. The larger land parcels also mean wider residential areas and a more tranquil lifestyle. More and more suburban areas are expected to turn into thriving residential locations.
The government’s focus on affordable housing is for all to see. The PM Awas Yojana-Urban alone is credited with the completion of over 75 lakh affordable houses. With lucrative tax benefits for homebuyers, the emergence of the new consumer base is likely to boost affordable housing.
The development of shared spaces can become popular among youths and students. This segment can be a cost-effective option, particularly in commercial and academic zones.
Given the scale of the real estate industry and its continued growth, new trends are bound to emerge in the days and years ahead. These trends have an influence on how developers plan their next project. If you are planning to buy a house in the near future, keep these trends in mind while finalising your dream home.
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