Top Real Estate Trends in India for 2024

1. Affordable Housing

One of the biggest real estate trends in India is an increasing focus on making housing more affordable in India. The Indian government, working with innovative real estate companies, is trying hard to make it possible for more people to buy homes. This commitment can be seen in the growth of lower-cost housing choices offered to clients across India, from big and busy cities to smaller and developing towns.

This is one of the recent trends in real estate that is not just opening up house ownership to more people but also helping to create a sense of inclusion and empowerment across the country. It is one of India's most important directions for real estate sales.

2. Built-to-Rent Buildings

One of the new trends in real estate is the popularity of Built-to-rent (BTR) properties in India. As more people move to cities, there is high demand for rental housing near offices and city centres. By 2030, 40% of Indians are expected to live in the urban areas.

Many younger working professionals now prefer to rent instead of own. BTR rentals suit their lifestyle needs better. BTRs are fully furnished and provide amenities like gyms and clubs. This makes them attractive to tenants looking for a comfortable living experience. Investors are drawn to BTR because of the steady rental income. With many tenants renting long-term, BTRs can help you generate good returns.

3. Lifestyle Living

One of the latest real estate trends in India is that more people looking to buy homes in India want more than just a typical house. They want homes that go beyond offering basic rooms and provide them an opportunity to live a comfortable lifestyle.

People today are looking for houses that offer luxury features as well as convenience. Some examples of features that people look for in lifestyle living projects include fitness centres, swimming pools, and shared workspaces within their housing complex.

These community-oriented features cater to the desires of today's homebuyers who want comfortable homes that also allow them to connect with others who live nearby. In the past, home buyers in India focused more on the size or layout of their homes.

But now, there is a growing interest in buying properties that offer an elevated lifestyle experience and a sense of community belonging. The recently inaugurated Clubhouse at Piramal Revanta(Mulund) and the clubhouse at Piramal Vaikunth (Thane) are marquee lifestyle properties you could consider.

4. Rise of Suburban Real Estate

One of the real estate market current trends is the growing inclination of people to live in the suburbs outside of the bustling cities in India. They want a calmer lifestyle surrounded by nature but still close enough to easily access the opportunities and conveniences of the urban spaces.

Real estate developers are building new suburban societies to meet this demand. These societies aim to provide peaceful and spacious living, relatively calm and natural settings, and modern comforts and amenities.

They also try to provide good connectivity to major city centres. The growing popularity of these suburban developments in India shows that finding the right balance between natural settings and urban accessibility has become essential for many homebuyers in India.

More people now want homes that offer them the best of both worlds—the tranquillity of suburbs with the connectivity of cities. This real estate trend in India is likely to continue in 2024 and beyond!

5. Shift in Commercial Space Management

As companies in India adopt hybrid remote and in-office work models, the future of traditional office spaces is still being determined. Instead, the demand for flexible co-working spaces that allow remote work is growing.

At the same time, the rise of e-commerce has fueled an industrial real estate boom in India, requiring more warehouses and distribution centres to enable quick last-mile delivery. The sharing economy is also revolutionising real estate in India.

Co-living and co-working spaces are rapidly gaining popularity in India. There is ample scope for real estate investors in this area.

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How Infrastructural Developments are Driving Growth In Mumbai Real Estate?

6. Sustainable Living

Caring about the environment is becoming increasingly mainstream for people looking to buy homes in India. Homebuyers today want "green" homes that are energy-efficient and good for the planet. They want these values to reflect in the homes they buy.

For example, new housing developments in India are starting to meet this demand by building sustainable communities. These communities use renewable energy like solar power and build homes using techniques that are less harmful to the environment.

They aim to let people live healthier lives that protect the Earth for future generations. Making sustainable living more accessible for homebuyers who care about climate change is one of the most significant real estate trends in India in 2024. Notably, this trend has been gaining traction in recent years and is likely to grow in the coming years.

7. Technology Integration

Real estate investors in India are using big data and Artificial Intelligence (AI) to better understand market conditions. This helps them make smarter investment decisions and find less obvious real estate investment opportunities.

On the buyer side, augmented and virtual reality allow buyers to take 3D tours of properties online instead of visiting them in person, which saves them time. Notably, major construction companies in India are using Building Information Modeling (BIM) software to efficiently plan and coordinate projects, which makes them more competitive. The integration of technology in real estate is likely to improve in 2024 and beyond.

Also Read: Future of Indian Real Estate Market

Summing Up

India's real estate demand is shifting based on changes in what buyers want and can afford. For example, buyers' preferences for home features are continuously evolving, and smart home technologies that use cutting-edge systems are becoming popular.

A thriving real estate market in 2024 shows that buyers feel optimistic about their future in this market. The new trends in real estate in 2024 covered in this article highlight that this industry is evolving to keep up with the rising dreams that would come with India's booming economy in 2024 and beyond!

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