Even with the aftershocks of the Covid-19 pandemic, the Indian real estate sector is believed to make a comeback in 2022 by adapting to the changes and new trends going on in the market. It wouldn't be wrong to say that like every other industry, the real estate space has also seen its fair share of ups and downs in the past two years of lockdown.
From going online, making the virtual tour happen to securing the digital payments with creating a trust factor amongst customers, the stakeholders in the real estate space have witnessed a bull ride. Hardly any real estate company in India will deny this fact. To stay relevant in this industry, companies need to adapt to the rapidly changing environment and follow the trends to maintain a firm grasp on the dynamics of the real estate space.
Trends to Follow
The Anant Raj Company (TARC) is one of the renowned real estate developers in Delhi that is transforming the real estate market while changing the traditional practices with the use of technology and different techniques. It has been following the market trends to the core, which have been mentioned below for further clarification. These emerging real estate trends are inclusive of various determinants like construction, promotion, finance & more.
Evolved Proptech Ecosystem
Digitization has become one of the key differentiators in the business. It is no different for the real estate space. Many companies are adopting Proptech as a critical component of operations. India's real estate sector is using it to create an open communication channel between agents and buyers via a responsive digital environment.
Use of Innovative Construction Technology
Many real estate companies are using disruptive technology in construction to stand out in the competition and provide buyers with quality products that are durable and yield less maintenance costs.
Cutting-edge Marketing Technology
Technology like customized CRM and other marketing tools help developers to get their product in front of the right audience and sell faster. It has been a boon for developers and brokers alike who were looking for robust digital platforms to connect with their clients more efficiently.
Increased Housing Demand
With people getting the hang of the new normal, homes with workstation setup and even regular homes in general are becoming popular. Since work from home has given people a chance to spend more time with their families, the demand for quality homes has gone up.
Marginal Rise in Prices
As the effects of pandemic are cooling down, the price of the real estate has increased 5-8 percent due to a rise in the cost of construction, and rates are expected to go high by 5-7 percent more. It's going to take the total increase in the marginal price by 10-15 percent across the Indian real estate sector.
Development of Suburbs & Tier-2 Property Markets
Suburbs are densely populated, thereby resulting in higher living costs. In Tier 1 cities, all the main airports, leading multi-specialty hospitals, enterprises, academic and research institutions, and other amenities are available. While Tier-2 cities are not as heavily populated as Tier-1 cities but almost resemble the same quality of life. This could probably elevate the demand for real estate in both the urban categories in the next few years. This calls for an extensive need for real estate in Tier 1 and Tier 2 cities.
Summing up
So, if you consider the above-mentioned real estate trends in India that are dynamically influencing the industry, it is evident that investing in real estate in 2022 is not such a bad idea. First time home buyers should consider buying, especially those who live in Delhi. The property rates in Delhi are going to scale high and judging from the market conditions of Delhi real estate, it is advisable that you should start your house hunting soon. You will get higher property appreciation rates and ROI, if you invest as early as possible. If you are looking for a new residential project in Delhi, then you should definitely visit TARC Tripundra. It is one of the best residential projects in Delhi offering expansive open curated green spaces for just 190 families to indulge in a living that truly nurtures the heart and soul. Hope you had an insightful read..