By Runwal Group Posted On Mar 20, 2020
Category Market trends and insights
Real estate is one of the main drivers of the Indian economy, contributing 6-8% of India’s Gross Domestic Product (GDP). Ranked second in terms of employment generation and 3rd in terms of direct, indirect and induced influence on all the sectors of the economy, it has been a priority sector for the government as well to accelerate the sluggish economy. Real estate trends also have an effect on sub dependent sectors such as retail and hospitality. Bearing in mind the performance of the realty sector in the past 18 months, let us find out about some emerging real estate trends for the year 2020!
Mobiles, laptops, tablets are at the forefront of our daily lives with the smallest and biggest of tasks being performed online. The real estate sector has also recognized the power of the internet and that having a strong presence online is a must. Marketing, sales, virtual floor plans, simulated home tours, connecting with buyers via social media, all have become as vital as delivering a quality project.
Technology upgradation has meant that the builder has more access to information, client requirements & feedbacks. It has resulted in a more professional approach with reduced delivery timelines, improved construction quality and more.
Block chain technology, a decentralized, distributed, and public digital ledger that can be used to record transactions across many computers so that the records cannot be altered, can become the go to technology for the real estate sector to ensure more transparency & accountability.
Since the past few years, India’s real estate sector has been receiving Foreign Direct Investment (FDI) equity inflows of around USD 25 billion in the period April 2000-March 2019. Private Equity and Venture Capital investments in the sector reached USD 1.47 billion between Jan-Mar 2019.
Commercial real estate sector (grade A offices, retail properties and the warehousing sector) will continue to gain more funding from foreign investors due to rising demand and rising rentals. In collaboration with local developers, foreign investors are exploring multiple funding avenues in the real estate sector. Also the very first Embassy Office Parks Real Estate Investment Trust (REIT) stock market listing has had a terrific response further providing an opportunity for foreign investors to fund in the sector.
The real estate sector has been showing some revival signs but still overall sales are on the weaker side.
The bigger players in the realty sector are managing to stay in business by selling off their assets to pay outstanding dues and debts. But the smaller builders are truly struggling to keep their head above the water. Even the setting up of a 25000 crore fund by the government, to revive stalled projects, will end up benefiting only 10% of the builders while the rest will find the going difficult in terms of completing projects.
The tired and tested plans will have to be discarded and a fresh, out of the box approach will need to be taken to effectively focus on consumer needs. Attractive options such as giving luxury amenities in an affordable housing project will mean more buyers will be interested. For commercial real estate, co-working space, data centers and warehousing space will be in demand.
Rather than a product driven sector, the real estate sector is becoming more of a service driven industry and the upcoming trends will reflect these changes.
A builder that is closely aligned with their customer requirements is the Runwal Group and one of their largest residential projects in the central suburbs of Mumbai is Runwal Bliss.
A vast residential township nestled amidst 10 acres of landscaped open spaces; Runwal Bliss offers its residents 2 & 3 BHK flats in Kanjurmarg East. Designed to offer home-owners a tranquil lifestyle in the middle of the hustle and bustle of the city with resort-like amenities right at their doorstep, Runwal Bliss is the perfect blend of modern living with nature and wellness. Ideally situated in Kanjurmarg East, Runwal Bliss is well linked to all major city points and offers access to some of the best social infrastructure, including reputed educational institutions information, hospitals, retail and entertainment.
So if you are a home buyer looking for a 3 BHK flat for sale in Kanjurmarg East Mumbai, then Runwal Bliss is your best option.