India Is Becoming a Property Realty Sector For Perfectly Shaped Cities, Workspaces, Reasonable Housi

The real estate sector of India like Upcoming Residential Projects In Kolkata and other cities are making and designing the features of India with identical factors like forming smart cities, co-working places, flats and housing with reasonable rates as per the reports given by CII CBRE.

The factors than enhances the shape of the future of the Indian real estate sector:

Updated smart cities- the cities are becoming more developed which is enhancing the future of real estate in our country.

The infrastructural facilities in the cities with proper management of the traffic system and to maintain the upgraded amenities in the cities will make them take one step forward to become a smart city. The cities are now under the power of surveillance to safeguard the citizens of the country.The project launched named " 100 Smart Cities Mission" which will look after the development of cities with smart and extraordinary ideas. The Delhi will cross over Tokyo as the world’s largest urban cluster by 2030. At that time, India will have above 1million population with 68 cities. The updated facilities regarding the transportation system and regional connectivity will be strong by 2030. This will be granted as the primary factor of the smart city. The main priority should be the prices of homes which seems to be affordable for the buyers. It should provide a good atmosphere with a friendly neighborhood for a sustainable life.Corporate workspace- now Shanghai and Delhi NCR are the two regions where the vastly expanded space for more than 3% acquired by the office stock. Currently, APAC with 1.7% of expanded space of office area has been acquired.

Calculating the demand for overstock of office including the seven cities in the country, the space of corporate increased up to 52% y-o-y to around 20 million sq.ft by H1 2019. It is expected that by 2020 the space will expand to 7-9 million.

Affordable homes and logistics- as compared to H1 2018, the leasing activity rises to 31% and also crossed 13million sq.ft H1 2019. As per the identification of the report (CBRE APAC Investor Intention Survey 2019), the sectors are emphasizing on significant investments. India is one of the best investment destinations in APAC after identifying the industrial and logistics as one of the best place for targeted by the investors in 2019. More than 42,000 housing projects are registered in RERA rules where 30 states and union territories are notified at present. The PAN India supplies increased by 17% y-o-y in H1 2019 and on another hand up to 16% of sale grown y-o-y. the prominent example listing the country’s first REIT, the Indian real estate sector is now the highest bar of global investors.

India day by day striking the Ease Of Doing Business ranking rapidly. The individual real estate segments are separated in certain policies like Draft Logistic Policy, Draft Industrial Policy, Draft E-Commerce Policy, and a Draft Retail Policy.

After implementing RERA, GST and Insolvency and Bankruptcy Code, everyone expected the developers to maintain the transparency with a good model of business which can help increase the market shares according to rules and also increase the profit margin depends on accountability. The real estate sector also emphasizing on the ideology of digitalization of cities with artificial intelligence, blockchains, autonomous vehicles, etc are some of the disruptive technology which can influence the innovation and increase the growth. The construction techniques are also increasing by the time when more innovations are taking place to improve the basics also.

New construction technologies are helping the developers for fast construction with a business-class quality as per the growing demand.

PropTech as innovation will help to increase the emergence of data assembling, designing, and transactions which will be the more transparent and trustworthy relationship between homebuyers and developers.The business partners will start working "with" organizations but not "for" the organizations. The increase in demand for flexible workplace which will support the millions of working populations with more modern facilities. This will also help the corporate sectors to provide extra facilities like café, shuttle services, etc.

This rera is the right time to change the dynamics of the real estate sector to deliver a sustainable, updated, digital fast forward life.

Rakesh Misra is a real estate blogger who blogs about Kolkata's realty market and also gives advice on buying residential and commercial apartment or flats in India.