Trends in real estate are important to follow as they provide a window of opportunity for everyone associated with it. Whether it is a developer or a buyer, both of them are dependent on evolving realty industry in order to get benefited by it. Real estate in India is a complicated business as it has been on a roller coaster ride since past few years. It was much after 2010 when the situation was handled cleverly by government organizations that have been trying to impose regulations on real estate website and industry of India. Soon after different polices were introduced, buying and selling property became convenient and is now under constant supervision by authorities.
As compared to the global investment scenario, Indian realty industry has a lot to follow. Apart from adopting various policies on a regular basis, it is also essential to bear in mind the growth in cash flow that has been improving in other countries. Thus, when it comes to India, there is a long road to recovery, which needs to be followed immediately. Here are a few key pointers to identify with the changes that are required to take place in the country-
Rise in income level
It is only in the metropolitan regions that people are getting paid according to their professional background. However, this process also needs to be applied to other neighbouring cities that are not yet completely developed and require proper access to increasing urbanization. Thus, buying property in India could become more affordable if there are better incomes in each and every household.
Growth in online branding
Real estate websites in India have become quite common these days but it is always important to select the one, which gathers valuable information for a buyer. Positioning and development of such websites is becoming a vital part of real estate and needs to be rectified as soon as possible. More importantly, digital media is slowly becoming an inseparable part of our routines, which is a clear indication for all the businesses to take clue from this trend.
All said and done, government’s role remains undoubtedly crucial in expanding real estate industry. India’s current situation easily depicts what it is actually capable of and how it should be further improvised to make way for better economic gains. The regulations that have been already applied are required to be continuously monitored with a planning to instil new ones in the regulatory system of Indian real estate. Therefore, rules and regulations in the real estate business are needed with a thorough forecast of how it should be resolved further.
With the help of these factors, real estate can become more feasible for almost every section of the society. Apart from following trends that have been driving the Indian economic status, developers should also follow a few of the tricks from global builders as well. This will not only help them to overcome current challenges but also enhance the overall expansion process of real estate business in the country. Real estate being a huge driver of Indian economy needs to ahead in this game and learn a thing or two from the western real estate business tactics. The changes are definitely going to produce better revenue models with a calibre to make real estate in the country more responsive in terms of demands.
October 13, 2016