Gazing at the Next 5 Years of Indian Real Estate Business Prospects

Real estate industry needs no introduction as it is an already functioning domain of business, which is well-known for its constant growth. Real estate India is quite demanding due to the country’s unpredictable pattern of growth, which is also makes the business a dicey one. Among all such aspects lies the fact that regulatory and economical changes in the past few years have contributed to the ongoing advancement. Therefore, the market is expected to witness a turnaround in the next few years, preferably a positive one.

In order to understand India’s development process in detail, it is important to go through the factors that have contributed in the overall process.

Affordable housing to become lead player

The mid-segment also known as affordable housing structure has gathered a lot of appreciation over the past few years. The reason of this success lies in the fact that people moving into big cities with rapid urbanization are shacking up in affordable homes. Proposed and conducted by National Housing Bank (NHB), there is a thorough planning by government to ensure cost effective housing options for everyone who is looking to buy a home in the city. Irrespective of the location, these measures by government is a great way to introduce a legalized form of business transactions.

Smart Cities program by government

The Smart Cities plan by Indian government is an initiative taken to make each and every city a developed one. This scheme is fully functional right now also helping in the growth of the country by making sure that every area has a development plan. Planned with an idea to work towards the expansion of at least 100 cities, this program has been acclaimed because of its futuristic vision. Basically a smart city caters to the growing needs of an urban city to become a self-sustaining location with an ecosystem of advanced social and infrastructural changes.

Commercial real estate gearing up

With the help of such measures being taken, another segment of real estate is gaining limelight because of its rapid growth in the industry. The commercial real estate has become quite important soon after the announcement of Smart Cities program in India. This has happened due to the fact that these developing cities need a smart infrastructure in the form of commercial as well as residential real estate. The need of attractive office locations has increased making this segment an appealing choice among investors.

High occupancy level in all of the segments of real estate has made it a market with uncountable aspirations. Market researchers have found that buying properties in India has become quite affordable due to which there are many buyers who are not shying away to invest their money. Therefore, builders are now tweaking their development models to enhance the current scenario of real estate market of India. This will not only give them an edge over the competition but is also going to help the overall real estate business of the country.

Being a tricky industry, real estate has quite a handful of challenges for itself. An industry marking the development of the country, realty segment is being expected to build India’s revenue model with the help of continuous investments.

Self-Driving Cars May Remake Significance of Owning Luxury Flats In Noida

Self-driving cars are likely to bridge the gap between those living in luxury flats in Noida and those living in affordable flats in Noida. This will be so because there may not be much to differentiate a self-driving cars model from another self-driving car, thus self-driving cars will likely be homogenous and not be priced too differently one another. If we take into account, the drastic changes which have occurred since the beginning of this decade we can rest assured that self-driving cars shall be on the roads sooner rather than later. While people in the future may live in vastly different homes, they may all drive cars similar in price and performance. Many may be against this trend if it takes root as if everyone drives the same vehicle then it will become difficult to differentiate between those who have accomplished a great deal from those who are mediocre. As a matter of fact, everybody in the world driving similar cars smacks of socialism to many of us. All those who are at the top of their game today can say is “get used to it”; this includes billionaire Warren Buffet who believes that it would be extremely difficult to sell self-driving cars at vastly different price points and thus cars of the future may become homogenous products.

If cars which are today regarded as a status symbol second only to houses by many become undifferentiated then many who own expensive property in Noida and work grueling hours each day may lose the incentive to work harder to earn more to splurge on even more expensive cars for themselves or their loved ones. Self-driving cars may remake society where everyone gradually becomes more and more equal and similar to one another. When someone ventures out in a flashy car they expect to be admired by onlookers who don’t have the money to buy what may be an expensive German luxury car. But if self-driving cars become ubiquitous what incentive shall those who earn money have to earn more for themselves and their families? Actually, we may be heading in a direction where technology such as automation in factories, AI in software, medicine, and law, and renewable energy shall gradually lead everyone to become unemployed and instead to depend on the government to receive what amounts to a monthly allowance. Such a drastic change will remake society globally if it occurs.

While many wealthy builders in Noida who construct affordable residential property in Noida may welcome such a change as their market share shall increase due to a collapsing demand for luxury flats in Noida, those who are today at the top of the heap may question their own accomplishments and resent those who they believe are forcing equality upon all of society. The Ambani’s and Birla’s are household names in India because of their wealth and enjoy an almost mythical status in the minds of most Indians. They would resent being forced to be made equal to those whom they today tower over. Yet would they really? Certainly, everyone being made equal would lift a huge burden from the shoulders of those who are compelled to portray an image of success to society while at the same time being burdened with continuously finding new ways to make money to maintain their status in society and to keep their employees happy and subservient.