Indian Real Estate sector has been progressing since the past few years. It has seen both sides of the coin, the growth side as well the flux side. For budding property buyers, the year 2019 is not going to be very much different from the last few years. The prices of the property are almost static, its neither increasing nor decreasing at an alarming rate. It has only slight differences depending upon the property and location.
2019 is expected to be a tough year for the real estate business due to the NBFC (Non Banking Financial Company) crisis. The changes in the GST pattern has also affected the market of real estate. Even Top Builders in Ranchi are focusing on clearing the existing inventory.
Listed below are the few things that can be awaited for in Indian Real Estate.
- Office demands are increasing- Many new entrepreneurs are focusing on creating a startup of their own. Especially the people from the technology field are more into starting companies of their own. For that purpose, they are renting out flats on a large scale. Gross office space absorption space has increased by 20 percent in the year 2018.
- Renting out flats for converting into warehouses- Since the introduction of GST which has united all the 29 states into a single market, has encouraged the developers to shift from housing to warehousing. This is possible because of the increasing trend in online shopping. This has also helped in easing the business process.
- Increase in residential demand- The increasing population has fuelled the demand for housing. The trend of living in a nuclear family has also increased for a few years. The construction companies in Ranchi are trying hard to satisfy the needs of the users. Top builders in Ranchi are working hard to provide space friendly and budget-friendly houses to their customers.
- Co-working spaces — Co-working space was a new thing in the past, but in recent years it has witnessed a lot of acceptable among all the business classes. Earlier it was popular among the small business groups, but nowadays even larger companies are open towards co-working spaces.
- Co-living occupants- Many students and professionals who are living in other cities far away from their home town are sharing flats and houses to save money. Several families are also living in shared apartments that have separate bedrooms but a common kitchen and living room.
Top builders in Ranchi and Construction Companies are working hard to match up with the trends in the Real Estate business. They are focusing on each and every aspect of the increasing trend and trying to match the competition in the market. Balaji Amrut is one of those companies in Ranchi which is focusing on the above-mentioned trends.