Indian Real Estate: Changing Perspectives

Indian Realty market is a booming sector for countryâ??s economy and GDP growth. There is a strong connection of economic growth and urbanization of the housing sector. The real estate sector in India pursues to be a favoured destination all over the globe for investors, developers and NRI's. After Agriculture sector's highest contribution, Real estate conduces about 6.3% to India's GDP.

Real estate in India has noticed rapid growth in residential, commercial and industrial segments of the industry. It has strengthened its roots in all the cities across the nation, but cities like Bangalore, Bhiwadi, Chennai, Delhi, Gurgaon, Mumbai, Noida, and Pune has witnessed sudden increase in demand of modern properties. The Real Estate has given a new and contemporary designing of the infrastructure to India.

The commercial real estate in India has given a new and trendy working environment to Indian youth by introducing high tech and comfortable infrastructure. The centrally air-conditioned complexes with ample parking and eco-friendly developments have not only added a lifestyle to todayâ??s work life but also takes care of the nature. Moreover, there has been an amalgamation of commercial and retail which aids the leisure and recreation along side the work life.

Commercial realty marketâ??s changing scenario could be attributed to the private developers like DLF, Indiabulls, Lodha, The Wadhwa Group and Spaze to name a few. DLF Gateway Tower, Nestle India headquarters, BPTP Deloitte building, Dhoot Time Tower, DLF Corporate park, Vatika City Point are some of the exceptional developments one can witness in Gurgaon. As far as Mumbai is concerned, some of the exceptional properties are The Wadha Capital, Express Towers, Lodha Supremus and One Indiabulls Center to highlight a few.

All these listed properties have exquisite design and architecture with world class facilities. Offering the professionals a place to work, play and relax is the new concept being followed by developers these days. This transformation has made even small business units to invest and get the best place for their employees.

The modernisation has not restricted itself to just commercial segment of Indian Real estate but has moved on to residential and institutional spaces as well. The residential real estate in India has seen some drastic evolutions in the last decade. With the use of innovative architectural patterns and advanced technology, the Indian residences now have a transformed overall appeal and grandeur.

Some of the finest residential properties in India are DLF Aralias (Gurgaon), Runwal Greens (Mumbai), Marvel Brisa (Pune), Marg Swarnabhoomi (Chennai), Indiabulls Golf City (Mumbai), Tata Housing Myst (Kasauli), to name a few from the endless list. All these properties have a unique element of design to them with modern and luxury amenities in the offering. They all stand out in their respective categories of affordability.

The factors that contribute to the exclusivity of a residential property would include the design, space offered, interiors, architecture, and use of eco-friendly techniques. With the introduction of home automation systems in abodes, the security level and art has also made up to the list. Adding up to the list is another component which is specifications as in the flooring done in the home, the kind of cooking and bathing space offered.

Talking about the institutional realty market of India, we all have witnessed the renewal of schools and college complexes in past few years. They have gone centrally air-conditioned with world class infrastructure and sports facilities. Today, the major focus of education system revolves around the infrastructure and the extra-curricular activities enabling the all-round growth of next generation.

Concluding the changes, we noticed in the Indian Realty Market one can easily map a trend in the alterations happened. Today, the core of real estate in India has shifted from mere offering spaces towards offering lifestyle spaces. The inclusion of more and more sports and health amenities in every segment of the market highlights the shift in Indian mindset. Now you will find badminton court, volleyball court, swimming pool, gymnasium in almost every property be it residential or commercial. Spa salons and yoga studios have also made their entry in the luxury segment of Indian real estate.

Lastly, these offerings also differ with the basic idea / concept behind a particular development viz., a sports themed residential complex would have more of sports amenities rather luxury and vice-versa. Therefore, before finalising a property do look into the amenities and specifications in the offering apart from the space and budget!!!

Propnix