The changing landscape of housing in Indian cities By Shravan Gupta.
November 16: Do you want to own a home and live a peaceful life? Real estate has made this a possibility with affordable housing in Metropolitan cities. There is a notion that buying in cities like Mumbai and Delhi is a dream. This is true but it is now possible to buy a home in these cities. It has been made possible due to affordable housing and the pandemic era.
Contrary to this view, the Indian real estate sector continued and is still thriving in 2022. Experts like know the importance of the thriving real estate sector for the Indian economy. It is one sector which has grown despite the adversities. The demand for real estate is projected to grow more in Metropolitan cities.
Why is demand high in Indian Metros?
This is very relevant to the changing work culture and perspective. Most companies have acknowledged the remote work culture. The remote work culture has made work-from-home vital. It is safe to say that WFH is the biggest reason for an elevation in affordable housing projects. Real estate experts like Shravan Gupta feel Work from Home culture is going to be one of the focal points in the coming months.
At the same time, efforts from governments and builders have made the dream of affordable housing a reality. It is now possible for every Indian to have a home in cities like Mumbai, Delhi, Hyderabad and Ahmedabad.
Factors which favour these cities
It is not possible for every city to make affordable homes and sustain them. Major Indian metros hold the infrastructure, government schemes and gated community culture to build more homes. In this context, cities like Mumbai, Hyderabad and Ahmedabad have the edge.
In Mumbai, WFH and remote work have emerged as ideal work options. Hence people are on the lookout for mid and premium housing complexes. Since the travel is less and its location favourable, people prefer to invest in homes here. This is a new trend. One which is bound to stay and become a part of the culture. Shravan Gupta feels this change had to come.
In Hyderabad and Ahmedabad, the story is entirely different. Most people have moved closer to their hometowns. They need a bigger and more affordable house. These cities meet the requirements like Independent homes, affordable houses, optimum educational centres and Prominent IT hubs. Affordable housing which offers premium houses at an affordable price makes these cities most prominent.
Shravan Gupta says the Indian housing sector is one segment which progressed despite the effects of the pandemic. India witnessed tremendous growth in the past year. This has made Indian real estate unique and diverse in the world.
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