The Future of the Indian Real Estate Market

In the current year, as predicted, the Indian realty market is definitely, scaling new heights. Though the same has been going through a lull some time back, 2013 has brought back the bang in the segment. Marketers even watch out for the new bills and acts like Real Estate Regulation and Land Acquisition Bills will be passed. Some even look forward with high expectations that the central bank, the Reserve Bank of India will also end up reducing the interest rates. Such expectations and if actions are taken, they are expected to not only boost the sentiments of the end-users. More importantly, since the present finance minister, P.Chidambaram has asked the real estate developers to sell off their unsold inventories at a lower rate; there has been a strong expectation that real estate trends are going to receive a shot in the arm. 

In terms of real estate investments, even that can be seen going up as properties are yielding good price in the near future. More and more real estate developers are thronging the realty market and apart from tier I metropolitan cities, even tier II cities are coming up in a great way in the Indian real estate market. With Foreign Direct Investment being initiated in the fields of retail and other related segments, the Indian realty market is bound to rise to newer heights. The already established metropolitan cities are expected to see a rise as well as other; listed tier II cities will rub shoulders against their Tier I counterparts. Since, the Indian realty market is currently offering high returns on investments; the future seems to be bright for the same.

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The Emerging Real Estate for Senior Citizens in India

The real estate in India has been re-discovering itself since the past decade. It has become highly customized and customerized like never before. The property developments in India shifted focus from metro cities to tier-II, III and IV cities. The residential property market in India has always been adjusting to the changing needs of individuals and companies.

The large scale growth in property was first seen in commercial industry as the IT wave set in. It carried forward to residential sector to accommodate the professionals working in these industries and finally to retail, in order to create entertainment and recreation sources for them. The residential segment is the most popular realty sector in India with builders concentrating all their funds on housing developments.

‘Affordable housing’ being the buzzword, developers have been constructing international quality housing at cost effective prices. After meeting the needs of industries and investors, real estate is now all geared up to cater to the requirements of senior citizens. According to a report by Jones Lang LaSalle Meghraj (JLLM), the leading real estate advisory firm, homes for senior citizens is emerging as a new property market in India.

The report said that the status of seniors in Indian market is experiencing a sea-change due to their augmented financial independence and change in mindset. They are no longer considered withdrawn or financially dependent and thus, this segment holds immense potential. Indian real estate market is witnessing a new array of opportunities in building homes for senior citizens, with its unique needs and promises.

Out a billion, the population of senior citizens in India is around 10% and with the trend of nuclear families at its best, they need greater support in all forms. The housing segment has increased four to five fold in just few years and is still on a growth path.

Property Dealers Wooing Investors

The real estate in India is witnessing a boom across all cities, be it metros or tier-II, III and IV cities. But, in places like Ludhiana where situation is not the same, property dealers are busy wooing realty investors by giving away freebies like cars.

The real estate giants who invested in property two years ago before the economy slowdown have not found any buyers yet. To release the blocked money of real estate developers, a two day property dealers’ exhibition was organized by Real Estate Bank of India (REBI). The first of its kind, the exhibition had 13 participants, all real estate dealers from North India. The property dealers whose older products remained unsold also participated in the exhibition to boost the sales and get returns on the investments.

The attraction at the exhibition was a lucky draw after every ten buys i.e. a Tata Indigo car. With registration by 350 people, property dealers are supposed to be gifting 25 cars but only after 10 ‘genuine’ deals. The results for the lucky draw are to be announced on June 29 as scrutinizing forms and studying backgrounds to identify genuine deals will take some time.

It is important to find the buyers and get the products sold for real estate dealers else it results in losses. This is why they sold few properties on special discounts like Rs. 100-250 per square yard off for on the spot buyers.

Real estate in India is on a revival mode where the steep fall in prices during last two years has started picking up. The construction of projects across all segments-residential, commercial and retail- has begun and the capital as well as rental values have also risen. Property market has become one of the most preferred investment areas in India.