Select City
Search
user-profile
Reflection of the rising Indian Economy on its real-estate
Reflection of the rising Indian Economy on its real-estate
For the affluent section of the society and the nouveau-riche, buying a house has turned more like a boutique selection of haute couture. The graceful adornments in the construction avenue are prooving the changing pattern of Indian (usual) style of buying houses.

World's top strategists and consultants believe in India to be a driving force for the world's economy, where many urban regions around India are projected to compete with several middle-income countries' economies. The McKinsey & Company, an international conglomerate which is into providing business solutions and strategy to top businesses around the world, has estimated that the Indian economy is yet to gain the optimum momentum in the third decade of the century, because India's growth indices are "most favourable as compared to other emerging markets".

The 7.7% projected annual GDP vows an increasingly double-digit growth for the economy by 2030. Although this growth keeps the manufacturing sector at its forefront, the role of real-estate should not be discouraged. The landmark decisions, namely the GST and RERA, have changed the face of real-estate dealings in India to an extent where the foreseeable transparency and capital-generation is wooing the foreign monies as well as the aspiring Indian middle-class. Since four years, the realty market has seen a serious slowdown, maybe because of a drastic move from being adamantly unorganized to being forced to organize its archaic business models. The prediction now says it's the time for growth.

Along with the speeding up overall growth within the market, it is evident to have differences within many kinds of housing in the country. India remains to be an avid consumer of affordable urban housing and pukka houses in the rural parts. Yet, to the affluent section of the society, and the nouveau-riche, buying a house has turned more like a boutique selection of haute couture. The graceful adornments in the construction avenue is a proof of the changing pattern of Indian (usual) style of buying houses. The newer projects often sport amenities like a swimming pool, a clubhouse, a gymnasium, levelled terrace parks to name a few, along with international charm in their architectural design, layout and the colour scheme.

The fancy-buying amongst the Indian gentry has been challenging its own record limits by every passing year. The number of posh and plush projects enlisting housing units like the top-level penthouses, duplex & triplex apartments etc. are increasingly popular amongst the buyers. What's interesting is, there is a trend to develop a high-gentry residential arena within the areas of lower land value. The lower land value and high construction cost together balance (to an extent) the pricing, making it a relatively 'affordable' luxury and the rise of such architectural adornments adds up to further development of the surrounding area in general.

The property hotbeds of India like Mumbai, Delhi NCR and others around the country, are witnessing a sudden surge of foreign direct investment. The Trump Organisation and many other international realty firms of a similar stature are bringing along the luxuries they previously offered exclusively to the lands of Western Europe and North America. The reality of the Indian realty is changing, the rising economy and per capita income is getting spilled from the households which are on their way to get into the international upper class.

explore further

NEED HELP?
Get in touch with Dwello consultant for free consultation
+91
Enquire Now
logo
A JM Financial Group Venture
HOW WE MAY HELP YOU?
(022) 6122 9411
hello@dwello.in
FOLLOW US
Registered & Corporate Office
JM Financial Products Limited. 7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400025
CIN:
U74140MH1984PLC033397
RERA NUMBERS
maharera-icn
Maharashtra
A51900000277
karnatakarera-icn
Karnataka
PRM/KA/RERA/1251/309/AG/220521/002898
delhirera-icn
Delhi
DLRERA2022A0103
haryanarera-icn
Haryana
RC/HARERA/GGM/1932/1527/2022/300
What is Dwello?
Dwello is a new way to buy home. In a world where facts are chosen to suit interpretations, our algorithms offer accurate recommendations by sifting through vast knowledge banks comprising real time market data and historical decisions of many home buyers, curated by industry experts.
Dwello, for every home buyer, is a way to go from 'I feel' to 'I know', at no extra cost.
© 2023 JM Financial Products Limited. All Rights Reserved.