CHANGE BRINGS GROWTH

Realty Plus - - Contents - an­nurag ba­tra Editor-in- Chief

While the real es­tate is go­ing through its re­vival phase, also emerg­ing in the mean­time are the new as­set classes apart from the tra­di­tional res­i­den­tial, com­mer­cial and re­tail in the realty sec­tor. Prom­i­nent among them are the ware­hous­ing & lo­gis­tics, data cen­tres, rental and stu­dent hous­ing. In In­dia, it is now that the de­vel­op­ers are chang­ing fo­cus to other de­vel­op­ments such as stu­dent ac­com­mo­da­tions es­pe­cially in cities that are strong ed­u­ca­tional hubs. From a global per­spec­tive stu­dent ac­com­mo­da­tion is an es­tab­lished as­set class which is most de­vel­oped in USA and UK. An­other in­ter­est­ing de­vel­op­ment in In­dian real es­tate has been the ris­ing pop­u­lar­ity of Proptech com­pa­nies that are en­abling the busi­nesses across the seg­ments of fi­nance, mar­ket­ing, con­struc­tion to brand­ing, pro­ject man­age­ment, ERP and CRM. It is yet to be seen how well the tra­di­tional real es­tate play­ers amal­ga­mate these new tech­nol­ogy sys­tems & pro­cesses and their even­tual im­pact on the end users ex­pe­ri­ence. Talk­ing of end users, we are now see­ing a greater in­cli­na­tion of home buy­ers to­wards ready to move in prop­er­ties. The trend is partly the re­sult of years of mis­trust on de­vel­op­ers due to de­lay in pro­ject de­liv­er­ies and partly due to the ex­emp­tion of GST on com­pleted projects. This has given a strong im­pe­tus to the home fi­nance com­pa­nies that are com­ing up with novel schemes and fi­nance in­cen­tives for home buy­ers. In­deed, all these trends paint a rosy pic­ture for the real es­tate sec­tor. Gu­jarat has es­pe­cially been on a high growth curve. Its in­fra­struc­ture im­prove­ment and smart city de­vel­op­ment have been the ma­jor fac­tors for the state’s real-es­tate mar­ket growth. In this is­sue Realty Plus brings the views and opin­ions of in­dus­try pro­fes­sion­als on these much rel­e­vant top­ics to high­light the chang­ing trends and pat­terns in the sec­tor across the coun­try. Wish you all a Happy Read­ing

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