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The thriving factors for real estate development

October 03, 2022 23:30 IST | ANI Press Release
Tennis player James Blake
Shravan Gupta, Vice Chairman at MGF

New Delhi [India], October 3 (ANI/PNN): Real estate, as one knows, has undergone a complete overhaul. The advent of 2022 has proven to be a game-changer for real estate. It won't be wrong to say that the housing segment is bound to be the real story. It holds for a country like India, where real estate is on the rise. It has been estimated that nearly 60% of people hope to own a home. Shravan Gupta feels this is likely to be a lucrative option for investors as well as real estate developers.

The story of real estate in India has been different since 2022. Since 2022, there has been a growing demand for new houses and buildings. It is different from the world.

Some factors responsible for this positive change government-Interest rate are:

- Low-interest rate

It is everyone's dream to have a home. In 2022, this has been made possible due to low-interest rates. Governments and Banks have made it possible to own dream homes. A low home loan rate has emerged as the ideal scenario for boosting home sales. It has proven beneficial for both buyers as well as investors. Shravan Gupta says most banks are offering low home loan rates to attract builders.

It has made housing a buyer-friendly market and an important player.

- Government initiatives

Today the government is very reciprocal towards real estate. Real estate holds the potential to be the ultimate economic healer. It holds for India as the government have launched several schemes to boost sales. Some of these have proven beneficial in launching schemes like smart city programmes. According to the smart city scheme, the government plans to build new homes. It will be done in collaboration with builders like Shravan Gupta. A smart city programme aims to give affordable homes to every Indian, which has led to an increase in housing demand in the urban and semi-urban sectors. It has proven to be the best opportunity for the real estate sector.

It has come as a boon for builders in the post-pandemic world. It is also possible to have tax exemption when a person buys a home. All such efforts have promoted growth in the housing sector.

- Ideal Location

The importance of the right location can't be undermined. The right location for a home is essential to boost sales. According to experts, the ideal location for a home would be centred around the central area of the city. It is close to offices as well as markets. The price factor plays an essential role when choosing a home close to an office area. Some prominent builders chose to make the best homes in a prominent area rather than in a remote location.

- The design.

It is visible that houses and bungalows have undergone tremendous changes. Today they are being made into an eco-friendly design with ample open space. These designs hold an immense appeal for the first-time buyer or second-time investor. One can say that design plays a crucial role in real estate development.

Most builders like Shravan Gupta are making buildings according to demand. Today home is one place where one works as well as lives. Hence, it is crucial to have the right design in mind.

The face of real estate is undergoing immense change. It is one way to achieve a faster growth rate in the real estate sector. It seems to be the lucrative sector which is drawing more new customers day by day. Shravan Gupta feels real estate represents the wealth and state of a nation. In a growing nation, real estate is bound to be on a high and show the growth story.

It is the need of the hour to embrace this and be a part of the vibrant economy. MGF group recognises this fact and is a part of the new Indian real estate story.

This story has been provided by PNN. ANI will not be responsible in any way for the content in this article. (ANI/PNN)

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