2019 was a lukewarm year for Indian Real Estate as sentiments moderated due to the slowdown in the economy. Despite appetite shown by end-users, investor activities have softened. Although upcoming corridors in Delhi, Hyderabad, Bangalore, Chennai and Pune continued to show growth, other major markets such as Mumbai continued to suffer from an unsold inventory overhang. It is estimated that currently, the value of stress, assets in Indian Real Estate is to the tune of around INR 174,000 Crores. A majority of such assets are concentrated in Mumbai.
However, 2019 also saw some notable changes in the industry. The government has taken some praiseworthy steps such as recapitalization of NBFCs, stress fund for stucking Real Estate projects and repo rate cut to boost liquidity in the market. Likewise, NRIs is becoming a dominant force in Indian Realty and contributing a sizable part of the demand dynamics. The growing strength of the diaspora is a welcome change in the industry. The outlook for 2020 looks promising drawing strength from strong fundamentals, growing consolidation and government initiatives to bring in more liquidity.
Here Are The 4 Trends That Are Going To Influence The Industry in 2020.
Technology: Innovation and technology will further deepen its role across the entire value chain of realty transactions with a key focus on lowering the transaction costs and raising customer convenience. In 2020, more investments will follow in the proptech, which will also include newer technologies such as machine learning, Blockchain, drones and virtual reality, among others. Buy luxury Flats in Dahisar East.
Younger Demographics: India’s young demographics will play an instrumental role in driving home demand in the near future. India is home to around 600 million individuals who are below the age of 25. The young demographics of India with its changing consumption pattern define a huge amount of aggregate demand. Apart from fashion products, consumer durables & automobiles, the young Indian demographics will also be a key player in driving housing demand in India. Marginal Rise in Sales Volume: We are expecting a marginal rise in sales volume. Although prices nearly remained stable in most of the major markets in India. A viable price option will further add momentum to the homebuyers demand. There will be a growing propensity for ready-to-move-in properties from major developers. Buy house Property in Dahisar.
Commercial: Increased demand for commercial office spaces will continue to get a shot in the arm due to the IT/ ITeS, BFSI & manufacturing industry. There will also be a growing demand for shared or flexible office spaces as both startups and bigger companies are getting lured towards such office spaces. Book your Luxury home Projects in Dahisar East with the latest home amenities.