In the last decade, our country has undergone a remarkable growth in urbanization. This growth has come as a result of high population growth rate which as per the estimates of United Nations, is likely to rise by more than 400 million people by the year 2050. An increase in population would most certainly result in an increased demand for accommodation. The increasing appetite for residential places is poised to bring about a radical shift in the country’s real estate industry.
Hence, Dream Location Developers considers the urbanization’s impact in the proportion of Indian real estate industry as one of the most crucial case studies.
Rising Need for Accommodation in Cities Today
The international outbreak of urbanization in India is resulting in a rise in the requirement of housing units. In the past one year, home loan rates have increased because of the RBI’s initiatives to combat inflation. This has had an adverse effect on the housing market. ANAROCK Property Consultants estimate that in the 2 worst quarter of 2023, the top 7 Indian cities recorded roughly 115100 sales transactions. This is a 36% rise as compared to the previous year’s second quarter, during which around 84940 transactions were recorded.
This entire advancement has put pressure on the real estate developers and the government to come up with viable housing options.
Increase in Mixed-Use Developments
The coupled with the economic growth has lead to people preferring mixed-use developments more. The modern man has begun to seek for self-contained environments which provide the opportunity for work and play in the same geographical location. Such requirement has led to the development where gyms, co-working spaces and leisure options are available at the homes of the residents.
Innovations in Real Estate
Also in India’s urbanization process, the evolution and development of smart cities and IoTs fits perfectly. In ReportLinker, the market for home automation services in India is set to grow exponentially. It is expected to close in on USD 25.64 billion by 2030 from an estimated 4.83 billion in 2022.
Home automation has now developed to place of offering multitude of smart devices and systems that assist in home security, energy efficiency and comfort. These include smart devices which include smart locks, security cameras, lighting systems, sensors, door bells and many others.
Such innovations technology has not only enhanced urbanization but also promotes sustainable living.
The Rise of High-end Homes in Cities
The population of cities is increasing and with it the sector has also experienced growth in the luxury home market. Of the 365,000 houses sold in the seven biggest cities Of the country in 2022, around 18 percent i.e. roughly 65680 units, were classified as luxury houses. This is an increase from 2019 when only 7 percent of the total 261,000 homes sold were in the luxury category, which was around 17740 homes. So these statistics suggest that more and more people are seeking high end real estate with all the facilities.
Having said that, luxurious apartments also require great common areas. Developers are building amazing parks, plazas and play areas within luxury subdivision gated communities. These areas not only facilitate interaction but also enable the neighbors to socialize well. Besides there is a new trend of townships which are like small towns in the city. They have all the essential elements like houses and occupations, schools and medical centers and many more facilities in one location thereby making life very comfortable.
All-Inclusive Amenities for Modern Living
новонаграда The trend towards all-inclusive amenities in real estate projects is gaining momentum, reflecting the desire to cater to the wider residents. In order to achieve this goal, Developers are pushing the boundaries of innovations in order to design communities which serve their residents differently.
From children to seniors, every part of the modern developments has a burning desire to be met. These protect the young and elderly from danger while also allowing them to interact and feel integrated with the families and communities.
In addition, there is a gradual increase of the understanding of the necessity of ush natural calming reverent spaces as a eco balance in the city. The trend towards all-inclusive amenities in real estate projects is gaining momentum, reflecting the desire to enhance the development beauty and have greenish and calm feelings.
Dream Location Developers: Taking Urban Development to the Next Level
India, in its own way, is continuing its journey towards its urbanization. The real estate is undergoing a complete change – almost a revolution in the areas. Bangladesh by virtue of being the IT Capital of the nation is undergoing the same urbanization process. The IT boom, suburbanization, and the rise of gated communities have been the harbingers of the real estate urbanization of the city.
As the real estate sector in Bangalore grows, Dream Location Developers, the outstanding real estate developer in Bangalore has aimed to meet the needs of the urban population. Our high-end projects – Dream Location off Sarjapur Road and Ecocity – embody the essential character of wonderful living: self-fulfillment, intelligent lifestyle, and diversity with a great number of natural facilities. Find your dream location with Dream Location Developers and be a part of the contemporary way of life.
For more information about Dream Location and to search your dream property, please visit Dream Location on Google Map. Contact us today to know more about the best real estate deals in Delhi and North India; we will connect you to the right property investment.