New Delhi (India), January 05: Real estate is the new vibrant story of 2022. We are witnessing changes both in metropolitan and mid-level cities. Earlier, the demand for bigger homes was seen in cities like Mumbai and Delhi. However, such isn’t the case any longer as people in mid towns too demand bigger homes. Such change can be attributed to mindset change and the requirement as well. It won’t be wrong to say that people need bigger homes to accommodate offices within their homes. Shravan Gupta feels this will enable the entry of new players in the real estate sector. It is difficult to pinpoint a single reason for this transformation as it can be attributed to several factors.
Each of these factors plays a major role in the transformation of real estate.
High Growth projection.
Market Analysts predict that the real estate sector will witness a growth rate of 8-9%. This is the most significant development in the housing sector since 2020. Today new housing projects are being designed for mid-level cities like Indore and Bhopal. This has widened the scope for real estate developers like Shravan Gupta. Experts feel this trend is likely to continue till the beginning of 2023.
There is an immense change in people’s thought processes as well. Gone are the days when small homes were in demand. Today this concept has changed, and people are looking for bigger homes. Shravan Gupta, this surge is visible in real estate, and housing is back in demand.
The trend for newer and bigger homes is due to work-from culture. The emergence of WFH culture has made it likely to continue the trend till the beginning of 2023.
Some factors responsible for real estate’s re-emergence are:
-The high number of buyers- Today, there are more buyers in the market for homes. Hence an overall increase in the housing segment.
– Banks have made it easy to avail of home loan facilities. It is made possible due to flexible home loan rates offered by several banks. Further strengthens the liquidity flow in the housing segment. Shravan Gupta acknowledges the government’s role in boosting the real estate sector.
The constant investment in real estate has boosted the levels of sales. Hence, making it the best time to buy a home.
It is these factors which make real estate the fastest-growing sector. Shravan Gupta feels the hope for the complete revival of real estate is now. The real estate will bounce back fully by 2023. The growth scenario is likely to remain unchanged till mid-next year.
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