The commercial real estate trends of 2015 have been quite encouraging. It outperformed 2014 in terms of commercial property sales and it is likely to remain the same in the coming year as well. The government promised “House for all by 2022” and this is something which the enthusiastic property buyers as well as realty companies are looking forward to. Again, with the development of the smart cities, affordable housing options and investments in the urban infrastructure, the real estate sector witnessed growth in the past few months.
Before the “Make in India” initiative takes off in its truest sense, we can only hope for a bright future of the realty sector in the country. Nowadays, people who are looking for a commercial property need to evaluate and re-evaluate a lot of aspects in order to make the most out of the investment.
Let’s examine the recent developments and trends in the commercial space.
- Industrial Corridors to Boost Sales: In India, the cities which fall under the major industrial corridors will see unexpected growth in the years to come. Each of these corridors passes through the numerous existing industrial towns and clusters and hence, these are more likely to become the brand new investment hubs. So, in the next few years, the realty growth at these localities of India will be absolutely exponential.
- Affordable Property Options: Affordability of real estate properties have become the buzzword these days. Both commercial and residential properties are now being constructed by keeping in mind the budget needs of the clients. The real estate budget was declared to be a whopping Rs 4,000 crores, and with good tax incentives being offered for the home loans, affordable realty properties became a reality.
- ‘Smart City’ Initiative Boosting Realty Sales: The phrase, ‘Smart City’, has created a kind of stir in India. Hence, numerous developments in the field of real estate will be seen around the various cities in the country. This has even ignited the interest of the probable buyers who are searching for good properties, both residential and commercial. According to few surveys, around 32% of respondents have shown great interest in property investment in the upcoming smart cities.
These pointers should be considered by anyone who is looking for a commercial space in India. Dealing with real estate can be tricky if a person doesn’t know the recent trends and developments in the sector. However, the above mentioned points aren’t any hidden truth anymore. A little bit of research into the field will help you immensely to acquire the best realty deal in your favourite city in India. All the best!