Real estate trends are dynamic. In 2015 the real estate experts believe that even more interesting trends will rule the real estate sector.
Following are some real estate trends you can expect in 2015:
1. Residential plots will rule
Residential plots are gaining prominence these days amongst property buyers. People prefer buying residential plots for profitable returns in the long run. In upcoming smart cities, apartment culture is yet to catch pace. Smaller areas in the peripheries are being identified for their development. Also plots have become a good option for investment.
2. Heritage cities -The next big thing
The government’s recent initiative of developing various regions as heritage cities will lead to high realty growth in those cities.
The cities that will be considered in the 1st phase of development are: Amritsar, Mathura, Ajmer, Vellankani, Varanasi, Gaya and Kanchipuram. In the second phase cities like Lucknow, Puri, Allahabad, Tirupati, Ujjain, Rishikesh and Hampi will be included. Rest other cities are likely to join them soon.
3. Industrial corridors to enhance infra growth in hinterland
In the coming years, cities that fall along the major industrial corridors are expected to see a massive growth. Each corridor is likely to become an investment hub as it passes through various existing industrial cities and towns. Once this is completed, the real estate growth at India’s hinterlands will be aggressive.
4. Small is beautiful
Small sized properties are preferred over large properties in metros. Huge apartments that need lot of maintenance are no longer preferred by buyers. As per a recent survey maximum people chose property of 800-1,200 sq. ft. Considering the affordability factor, builders are launching properties that fall within the budget and are smaller in size.
5. ‘Smart City’ tag to improve realty prospects
The latest word that is trending in the country is Smart Cities. A lot of infrastructural improvements will be seen within these cities. Buyers are interested to invest in these potential cities.
6. Investors back on realty Map
The year 2015 will see the return of real estate investors with FDI becoming a reality in construction. The major hurdle for the overseas investors is removed with no 3 year lock-in period. So now an investor can exit once the project is finished or after the development of complete trunk infrastructure.
7. Resale Properties in abundance
In the availability of resale properties considerable increase has been recorded. Bangalore is in the top with nearly 60% availability of the overall supply. It is followed by Pune with 36 % and then Chennai with 31 %. Similar trend was noticed in Mumbai and NCR, where again there was abundant availability of resale properties.
Thus besides end users, investors are also showing an increased interest in the dynamic real estate market.
Courtesy :Real Estate News and Trends in India
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