The drop in property rates, strict regulatory measures, increased transparency in all processes, great consolidation in the real estate sector have gathered much revenue especially from the NRIs, and have made them invest in the Indian market. The Real estate investment seemed to be good even in the volatility of the market. The Bangalore market in real estate has been irrepressible, despite the slowdown in the past years and buyers are more active and interestingly demand continues to grow from the NRI clientele.
Various industries have picked India over China for production hub, manufacturing plants, and business, with this forward step India is gearing up for major global Investments. The past investments in retail, commercial and residential estate have largely benefitted the returns from the rental incomes. Today the inquiries are mostly about residential properties and are primarily for end-usage. The demand is for all segments, starting from affordable and mid-segments to premium, luxury, and ultra-luxury properties.
There has been a great demand for ready-to-move-in houses, that offer safety and protection in addition to essential lifestyle amenities. The under-construction houses are also pre-booked. Also, with no GST on resale- flats, the demand for ready-to-move-in houses has soared a bit. Credible developers with a great legacy deliver on commitment and are an advantage in today’s market.
The recent depreciation of the Indian rupee against the US dollar has sweetened the deal as NRIs shell out to buy property. Covid-19 had a drastic impacxt on prociong and demand. Consumer demand has spiked in the markets and more buyers across India have shown up along with the NRIs. The lockdown also helped the people realize the importance of living in a home and community that can be called their own.
The environment in which they live, the ambiance inside the house, a comfortable space to work from, living near the workplace, lesser noise and traffic, and less travel have spiked up the thoughts of people on buying their own houses and living in it. Half of the clients brought a house solely for this purpose and those who already had a house brought properties only as a means of secondary income or a long-term investment.
The real estate industry is expected to reach 1 trillion dollars by 2030 and has been the contributor to Indian GDP by 13%. In 2025. This spurges the Bangalore real estate market is sure to inflate and appreciate over the years.