Buying a starter home is also significant in another sense - it is the point where most people step into 'adulthood', in the sense that they are finally transitioning from living on rent to a self-owned property. It marks the end of one's association with landlords, and the beginning of autonomy.
On the surface, selling and buying real estate seems novel and even logical. What works against it is the manner in which the real estate market actually functions in India.
According to industry body estimates, the Indian IT and BPO sectors employ close to four million people in over 16,000 companies and the middle management is at maximum risk of job loss in these times of disruption, increased automation and artificial intelligence.
Pune is expanding in many directions, the most critical direction is obviously towards Mumbai. The important task at hand now is to open up more and more areas along the Mumbai-Pune Expressway for good quality real estate developments.
Anarock Property Consultants' has signed a significant land deal for 20 acres at Kolkata's 262-acre Batanagar township.
Despite the pandemic, luxury housing (priced >INR 1.5 Cr) in Delhi-NCR performed reasonably well in 2020. Noida witnessed total housing sales of ~3,240 units in 2020 of which luxury comprised a 9% share. Gurgaon sold a total of ~7,240 units of which luxury homes comprised a 5% share.
Strategically located off the Pune-Mumbai Expressway, Punawale has emerged as a flourishing real estate hotspot in West Pune.
The year 1999 saw the formation of the Confederation of Real Estate Developers' Associations of India (CREDAI). The mission of this association of real estate developers was - and remains - to implement self-regulation among developers, and ensure that all member builders work in a cooperative and well-planned manner.
• Of 24% respondents who have booked property in the last six months, 38% were NRIs. 67% NRIs are looking for ready-to-move-in options. 86% NRIs will buy properties from branded developers