real estate in India

India has the second highest population in the world, with over 1.3 billion people. As the nation moves forward, a vast amount of real estate will be needed to house this large population, and in turn, more jobs will be created, leading to economic growth and raising standards of living across the country. Knowing how to invest in real estate in India now will ensure you get your piece of the pie when there’s only so much left to go around. Here are some tips on how to ace real estate in India today and tomorrow! 

How the Real Estate Industry in India Is Growing in 2023 

Due to the country’s rapid economic growth, it is expected that Indian real estate will grow exponentially between now and 2023. As a result, it would be wise for any investor looking for promising long-term investments in real estate to explore investment opportunities in this market. 

The fact that it has so many benefits and its colossal potential can make investing in Indian real estate seem like an obvious choice. However, as with all markets, risks are involved when investing in real estate. These risks include potential inflation, interest rate hikes, and political uncertainty, which may disrupt supply chains or trade routes. Understanding these risks is essential before deciding whether you want to invest in this growing market! 

One of the most important things to remember is that while investors might have some risk with no guaranteed return, they will also see significant gains if they put their money into India’s real estate industry. Another factor that makes investing in this market appealing is that it often includes properties built by developers who offer discounted prices on new developments due to incentives such as tax concessions and government subsidies. 

Current Market Size of Real Estate in India: 

India has one of the fastest-growing economies in the world. In fact, since 2000, its growth rate has been nearly 10% per year. More people are moving into the country’s major cities looking for work with an even more diverse economy on top of the financial services sector and tourism. While this is excellent news for the country as a whole, it also means that demand for homes is high and supply is low. As a result, real estate prices have risen dramatically – by 11% in just three years. 

Future predictions of Indian real estate Beyond 2022 

2022 will be an economically prosperous year for many global markets. Still, India will outperform the rest of the world by a significant margin, and the real estate future in India will seem brighter than ever. With an expected annual GDP growth rate of 7.6%, the country will thrive at levels not seen since 2010, even though they are on track to eclipse China’s economic might.  

The Indian Government has been following a strict monetary policy with low-interest rates that have contributed to its success, along with a fairly stable currency and solid trade balances. Additionally, agricultural output is projected to increase by 2% thanks to improved farming practices and higher rainfall totals. 

Push from Government Initiatives in Real Estate: 

Initiatives such as the Land Bill, Housing for All by 2022, Pradhan Mantri Awas Yojana (PMAY), Smart Cities, etc., guide market growth. The changes in land law and digitization of property records are expected to facilitate faster land buying, facilitating transparency of the entire purchase process. 

Moreover, leveraging satellite imaging is being planned by the Indian Space Research Organization (ISRO), enabling greater clarity on map delineation and providing security against fraud. India’s potential to offer one-third of the world’s future urban housing is not enough, given that our current urban population stands at 30%. As more people migrate from rural areas to cities, it becomes a necessity for developers and entrepreneurs alike.  

It’s about time we start planning and investing in building smart cities that meet today’s needs, rather than trying to live up to yesterday’s standards. With a rapidly growing middle class, aspirations are high, and there is no room for complacency. 

3 Key Trends for Real Estate in 2022: 

Rising NRI Interest: 

Foreign investors, especially NRI’s, will be crucial in driving real estate sector growth. According to RBI data, 80% of all money remitted by Indians went into asset classes other than FD’s in 2017. It clearly indicates that Indians preferred the equity market over Banking deposits. Moreover, buying a property abroad is becoming a more convenient proposition, with Government offering tax breaks on housing loans along with multiple options for investment inside & outside India. 

Rise of PropTech: 

Blockchain-enabled global real estate platform eliminates high fees, promotes open market activity, provides ownership transparency, and enables virtually instant transactions. PropTech helps you buy properties abroad at competitive prices. Furthermore, it also provides a list of local agents who can help the buyer deal with the purchase/sale of property abroad. It doesn’t matter whether the buyer has enough knowledge about the local language, as every step from booking to home delivery will be taken care of by PropTech. It is said that this technology can revolutionize the entire industry, including developers, brokers, agents, and even customers. 

Real Estate Prices are Constantly Rising in India:  

In many cities of India, people are now looking at alternative options like Investing their extra money into real estate. This could be one reason real estate prices go up by a significant margin every year. It is being said that Indians will take investment decisions based on what they need rather than basing them on financial risks. Property prices will go up further if the Indian economy performs well. Thus, there would be an influx of foreign investments, leading to a higher demand for land and residential units. If current trends continue, we might see most buyers willing to pay higher price tags because of inflationary pressures from a heavy inflow of investments in the country. 

Conclusion 

Real estate broker CRMsoftware can be a real asset to any company, especially when combined with marketing automation. The three most common features of CRM software are lead tracking, sales prospecting, and effective customer relationship management. Furthermore, this system will ensure that you never lose contact or lead again, and the communication process with your clients is smoother. If you are looking for the best real estate CRM software, check outSelldo CRM.  

There is a lot of action, excitement, and opportunity ahead in the Indian real estate industry. However, many challenges must be addressed before significant growth or change. As we have outlined today, these key issues will take some time and effort before we see any significant changes on the ground. Nonetheless, the future does look promising for the country’s young population, who sees a bright future ahead. 

By Williumson

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