Buying property is going to be an important milestone in your life. You might require a property for uncountable reasons - some of which could be commercial and some could be personal. But, the common factor in any kind of property would be your desire to have something sustainable, something that would not require any kind of rectifications or alterations for say, years, to come. Thus, it is important to have a property with futuristic features so that you can make the most of your investment in it without requiring adding to the cost further.
Listed here are some of the trends in the property market that have gained momentum of late and are going to rule the scene for years to come.
a.Regulated properties: India is moving towards making real estate a safe place to invest at a very fast rate. Benaami Act, RERA, etc are some of the reformative solutions that are being tried and tested for to make the whole scenario conducive to more and more investments coming from newer sources in addition to the traditional ones. Availability of a regularized framework for property dealings is adding a lot to the security quotient in the investment. Thus, the newest trend to be gaining momentum in coming times will be going for properties that conform to the guidelines laid out in RERA, etc.
b.Expensive properties: Things in Real Estate sector in India at present times are quite volatile in nature. All are waiting and watching for the ripples created by newer reforms to settle down to find out the final situation. As they say, quality and price go together: investors need to be ready to pay a premium price for properties that come with a tag of 'regularized' ones. There is an expected upsurge in the rates of the properties: however, those developers who are able to take advantage of higher input credit, or easier loan facilities may choose to offer some respite to the interested buyers. But, overall scenario may demand the buyers to have open mind in terms of the property rates.
c.Multi-functional properties: Buyers are likely to come across projects like mall and offices clubbed together, or residential units with provision for commercial use portions, or close proximity to schools or in-premise school and healthcare facilities in the residential projects, and so on. There is an increase in expectations from the property given the rise in price, and so, innovation will be the key driver of the property market in immediate coming times. Builders will have to come up with properties with multi-purpose features so that they can offer facilities at par with the price they quote.
d.Green properties: Energy conversation is going to be the top priority of the approvers of the property projects. Thus, builders would have to ensure that their construction models are fully supportive of the features like Internet of Things, Devices with Automated Controls and designs that help dwellers reside in the lap of the nature. In exact contrast to the previous policies, which took the environmental health to the backseat, the present ones are more dedicated to making the Earth the better place to live in. Thus, ideas that support energy engagement in correct proportion, or encourage use of natural resources for energy needs will be grabbing the top slot in the list of desirable features.
e.Properties with added privacy but in multi-functional units: Every resident or a business owner requires a certain degree of privacy in carrying out the activities of any nature. The focus will be more on developing units that are more or less standalone but are supportive of community living too. The need to stay secured and better use of resources call for such properties that offer added privacy without keeping the residents totally aloof from the surroundings.
f.Rise of commercial properties: Investors working as per the expected guidelines of REIT are going to be instrumental in the ride in demand of commercial properties. Thus, office properties sector is going to get transformed in terms of revenue generation. Though considered quite risky, about 80% of the investor portfolio has to comprise of assets that generate income. Thus, idea of co-spacing, or rental properties etc. are going to be on the fore in coming times. Attempts are directed towards bringing more and more properties under REIT's aegis: totaling to an amount of approx. $18 billion. (Source:https://economictimes.indiatimes.com/wealth/real-estate/6-major-trends-in-indian-real-estate-in-2017/articleshow/57406717.cms )
Which route should you follow while investing in property - development one or income-generation one? How you should plan your investment to offer you the best returns? Which city, what location, how big or small the property size? All these questions need you to stay updated. The key to success in property investment lies in Property Education and Training. Make sure that you equip yourself with ample knowledge and confidence to make the best of the changing times in the real estate. Join this program right away!
