The Indian real estate market is expected to grow very strongly over the next couple of years, with the market size set to soar to $1.3 trillion by 2034.  This correlates with several factors, including increased GDP, population, or a higher demand for housing. The Confederation of Real Estate Developers’ Association of India (CREDAI) anticipates a requirement for 7 crore additional housing units by 2030, with over 87.4% of the demand expected to be for homes priced above Rs 45 lakh. The increasing trend infers consumer demand, which is triggered by the size and value of the accommodation spaces, contributing to market growth. 

It’s not surprising that the Indian real estate market is an enticing prospect for all stakeholders due to the increased flow of foreign investments and domestic buyers. In addition to this, there has been a notable increase in inflows from Asia-Pacific countries such as Japan, Hong Kong, South Korea, and Singapore. Simply put, the Indian real estate industry’s growth can be attributed to the amalgamation of the following factors:

• Foreign investors
• The homebuyer’s desire to buy 
• The national supply

It appears that we can expect the Indian real estate market to continue to remain an integral part of the country’s economic growth. What’s interesting is that the country’s GDP will also benefit from an expected whopping €4.77 trillion (~₹431.41 trillion) by 2047. It seems that this lucrative sector will continue to hold its post as a major catalyst for India’s economic development, with an expected growth rate of 23.8% by 2034.

Noida’s Contribution To India’s Real Estate Market

Compared with other major cities in the country, Noida has also witnessed a rise in the sector and has become a valuable contributor to the market. 2023 was a fruitful year for Noida’s residential sector, with record-breaking sales. According to the reports by JLL, a total of 14,822 flats were sold, valued at ₹24,944 crore. Some of the factors that caused this remarkable growth were:

• Increased job opportunities
• Increased investments
• Accessible top-grade housing options
• Promising development opportunities

Another interesting addition is that consumer priorities seem to be changing as well. Reports suggest that Noida’s average home size has been steadily increasing by 11% annually. This shows that homebuyers prefer and aspire to live in larger spaces. Catering to the growing demand, real estate builders in Noida have begun to deliver a range of residential properties, including luxury residential apartments in Noida in prime locations. These unique apartments are built to cater to homebuyers’ modern needs and requirements. Features such as state-of-the-art gyms, temperature-controlled swimming pools, sports facilities, and clubhouses are some of the high-end amenities you can expect from luxury apartments in Noida. 

Noida’s prominent features, such as its strategic location and infrastructure development, further build up its attraction to foreign and domestic investors. What sets Noida apart from other close-range cities like Gurgaon and Delhi is its affordability and location, which benefit investors and homeowners. Adding to its appeal is its status as an employment hub with countless commercial buildings, SEZs, IT parks, and industrial sectors. 

This evidently growing demand is an encouraging opportunity for real estate builders in Noida to deliver magnificent projects and play a part in the progress of the real estate market. 

Noida also focuses on building a wholesome environment for the residents with green initiatives and sustainable living. The inclusion of massive, lush parks and waterbodies into its infrastructure developments is another plus point when attracting investors. With the convenience and superior lifestyle offered by the city, Noida is on its way towards becoming an ideal destination for investors and real estate builders. 

Recent Government Policies That Support Indian Real Estate Market Growth

The Indian government has played a significant part in supporting the expansion of the real estate market. Here are some of the recent key policies that are beneficial for the rise of the sector. 

The recent Union Budget 2024 announced several policies that complimented India’s real estate market. Housing was made more affordable with CLSS at a concessional rate of 8% by providing a GST subsidy to EWS, LIG, and MIG.  

Transparency in the real estate industry has been an issue. However, the government’s RERA and the Benami Transaction Act have boosted customer confidence and offered accountability and transparency. Furthermore, the introduction of these policies will ensure that developers adhere to transparency standards and corporate governance. It would also eliminate small or non-serious players. 

Here’s an interesting prediction: By 2030, the Indian real estate sector is estimated to achieve a market value of $1 trillion. This amount would account for 18-20% of the Indian GDP. 

The PM Awas Yojana will also be taking a step ahead with the government committing a massive ₹79,000 crore (US$ 9.64 billion). When compared to last year, this measure is a 66% increment towards affordable housing. 

Housing and infrastructure developments are pivotal to reviving a country’s economy. This is why industries related to housing development, such as steel, cement, etc., would have to adapt to the new demands. It’s also quite interesting that 15% of jobs in India are created by the real estate sector. 

Measures to improve efficiency are also taken by the government, ensuring improved transparency and service delivery. Some of these actions are as follows:

• Computerising government functions
• Networking with various departments across states
• Easy obtain of Encumbrance Certificates (EC) or Patta

In short, these policies would create affordability, transparency, and accountability in the sector. These changes would ultimately benefit consumers and the economy and be competent factors that contribute to the Indian real estate market’s growth.

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The Real Estate Market of India

Certain factors, like regulatory reforms, the liquidity crunch, and the COVID-19 pandemic, have been opposing the Indian economy in recent years. However, the real estate sector of India has demonstrated vital strength and prompt adaptability under these circumstances. In 2023, the market was recovered by favourable government policies, unusually robust demand, and elevated technological advancement throughout the industry.

What Are The Top Trends of 2024 That Will Reshape The Indian Real Estate Landscape?

1. Smart Homes Immersed With Advanced Technologies

This year, say hello to technologically equipped, advanced smart homes offering an upgraded user experience while making living spaces more inspiring for individuals. These tech advancements are reshaping the future of innovative yet affordable living spaces while automating homes by leveraging AI capabilities. These technological adaptations attract homebuyers to invest in more convenient, secure, and relaxing yet affordable housing developments. 

Additionally, Indian real estate acts as a magnet for global investors and homebuyers aspiring for luxurious living amenities and unique user experiences. 2024 foresees an elevated demand for affordable homes, providing luxury amenities while maintaining affordability. The ever-increasing desires of homebuyers for luxurious living spaces and exclusive experiences depict a broader trend in lifestyle and expectations. Middle-class homebuyers and investors target well-connected and opulent residential properties in prime destinations that do not cost them a fortune. 

2. Top 7 Cities To Keep Up Their Growing Pace

The growing pace of India’s top seven Indian cities is considerably derived from homebuyers’ ever-increasing choices for bigger residential spaces. These cities include MMR, Pune, Bengaluru, Delhi-NCR, Chennai, Hyderabad, and Kolkata. This end-user demand pushes residential real estate to develop a favourable environment for sustaining the hiking demand. 

According to a forecast by ICRA, the sales area of the top seven Indian cities is set to increase by 13–15% in FY2024 and by 10–11% in FY2025. This hike is primarily caused by the increasing demand of end-users and stabilised yet decreasing affordability. Moreover, new launches are foreseen to increase by 9–10% in FY2025 after hitting a decadal apex in FY2024, rising 15% YOY. 

With the Indian real estate market’s unprecedented rise, real estate builders are expected to facilitate homebuyers’ shifting demands with spacious, plentiful, and affordable residential units. Moreover, the years ahead are anticipated to witness sustained growth in the residential real estate market segment in these top seven Indian cities. It calls for real estate developers and investors to maximize this momentum by aligning with evolving homebuyer preferences and market dynamics.

3. Expected Fresh Launches In The Residential Real Estate Sector

General Elections are scheduled for early 2024, which usually impact the mood and policies governing the residential real estate sector. However, this political event couldn’t obstruct the sector’s boost from keeping pace with its growing momentum and launching new projects. Factors like labour costs and raw material availability hugely impact the supply of residential property. With an interim budget allocated for elections, no significant surprises will await the real estate industry by mid-2024.

Despite this political backdrop, robust residential buyer demand predicts the residential market will keep afloat with the next wave of growth and expansion. Several reputable real estate developers have declared new project launches to mark their entry into the booming market. This supply pipeline further promotes a strong demand for residential living space investments in the year ahead. A significant number of launches in the residential segment are expected in 2024, totalling 280,000 to 290,000 housing units. 

4. Escalating Demand For Commercial Real-Estate Sector

In 2024, industry experts predict a demand that will continue to boost the commercial real estate sector and the flourishing innovative office market. This year, consolidation is envisioned to be stable, mirroring India’s steadily developing office sector. The market alternatives will continue to realign according to the changing needs of the occupiers. Moreover, the robust economic development potential in India will sustain the confidence of the occupiers and developers.  

The balance between demand and supply would provide feasible vacancy levels by offering prospective rental increases. The industrial and warehousing industries are driven forward by increasing capital investments, manufacturing output, and stimulating government policies. Monitored using AI and IoT, intelligent and automated warehouses will redefine the future of these sectors.

Industry experts anticipate that the flex segment will exceed the 1.45 lac level in 2023 and will lease more than 1.5 lac seats. More and more occupier strategies are incorporating flex demand, which is associated with happier workers.

5. Skyrocketing Demand For Luxury Living Spaces

The extravagant real estate segment, particularly luxury residential apartments, seems untouched by shifting interest rates or market volatility. Despite their ever-evolving buying practices, luxury property buyers are also experiencing slight shifts in their purchasing behaviours. Regardless, this year will likely observe a worthwhile hike in luxury sales relative to total residential market sales.

The premium residential projects launched by reputable developers are expected to leverage technology to provide individual services, enhancing comfort levels. To deliver an upgraded living environment, they’ll use AI and chatbots to provide virtual concierge services, biometric authentication, and improved security. Moreover, the demand for holiday properties, second homes, and planned communities is predicted to grow in 2024. Leisurely desires, opulent lifestyle needs, and heterogeneous investments strongly drive the appeal of owning a second home.

With the rapid evolution of the Indian real estate sector, stakeholders must, however, keep up with the modifications in market dynamics and preferences among buyers. Being innovative, environmentally friendly, and digitalized will be among the driving forces to survive and respond to shifting consumers’ requirements. Through monitoring trends and utilising technology and partnerships, the Indian real estate industry is in a position to navigate the changing landscape of the 2024 period with confidence.

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Favourable market conditions, compelling economic sentiments, and lower interest rates further direct the market to a promising position. 

A progressed real estate market has also revived the interest of investors. Along with home buyers, investors are also tempted toward the market in vast volumes in pursuit of improved returns. 

However, you must be aware that, similar to other financial markets, real estate is not entirely devoid of risk. There are multiple types of risks, such as market, economic, and developer-related risks in the sector. Investors need a conservative risk management strategy setup for safer investments and higher yields. 

Here are 5 noteworthy tips that can aid in managing & systematically reducing risk in real estate investment. 

Geographic Diversification

If you’re investing in multiple properties, why not invest across regions rather than concentrating in one market. Despite accumulated trends, regional disparities exist in India. 

Therefore, investing in multiple regions can alleviate risk and increase ROI. However, prior to investing in various geographies, it is best that you do your research precisely and accumulate insights into past track records of individual locations. 

Asset Diversification

Similar to geographic diversification, you could also consider investing in various assets to relieve market and economic risk. Placing your money across assets such as commercial, residential, warehousing, retail, etc., optimises the overall returns.

This can distribute risk across assets, and limit the overall impact of any possible downtrend in a particular category will.

Analyse The Market

Analysing and observing the market before committing to any substantive investment is crucial. As an investor, you should understand the concept of demand and supply, future trends in the market, potential demand, etc.

Similarly, you must understand the physical infrastructure’s state, upcoming projects in the vicinity, business catchments, business/ IT parks, social infrastructure, etc. A meticulous market analysis can present many beneficial insights to investors like yourself.

Estimate Your Time Horizon 

You will require much patience for real estate as it is a tangible asset. Contrasting to the stock market, you should have a medium to long-term period at your disposal to enjoy the fruits of you real estate investment.

If you can maintain the property for an extended period, you can significantly prevent the drawback risk of cyclic pitfalls. Furthermore, you can relieve at the right time. Therefore, it is wise to access the risk appetite and evaluate the planning horizon. 

Credibility Check of The Developer

During the previous 5-7 years, the credibility of developers’ has become quite critical. Innumerable examples have demonstrated how projects belonging to non-credible developers get delayed. 

Though prominent developers could also fail, choosing a credible name in the industry can diminish the risk to a significant extent. ACE Group is one of the renowned real estate builders in Noida known for delivering property in sector 150 Noida on time as planned. 

Similar to the developer’s credibility, it is vital to confirm the functional dimension of the project. This could include utility, design, floor plan, specification, etc. A sound project will entice better investors, buyers, and tenants, yielding better returns. 

To know more about ACE Group’s  new projects in Noida, contact us on Toll free No : 1800-11-9999

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1. Keep Up With Past Clients

If you have satisfied customers to vouch for you, you do not need to spend a lot on marketing efforts. You can get their testimonies published on your website and social media accounts. You can also ask your previous satisfied clients if they would be willing to talk to your potential clients for verification. Having a positive reputation and attitude is very important to being a successful real estate agent.

2. Be Clear With Your Client

If you don’t have credentials regarding the property and builder, be clear about that with your client. It is your job to make your client know about all the risks associated with the property. 

3. Don’t Rely Only On Referrals

As a real estate agent don’t simply rely on referrals for your income. Get yourself registered with the Real Estate Regulatory Authority in your state so that your foundation is solid, meet with people and market yourself.

4. Have an Online Presence

In today’s era, everything is online. Everything can be searched for and people look for all types of requirements on the internet. It would be smart to have a basic profile online on Google Business Listings. You can grow your online presence with time. Include a call-to-action button on your website or social media page/account, which can redirect your potential clients to a contact form or your WhatsApp number, whichever is quicker for you to respond. As a real estate agent, a customised response to the queries to reach back to them within a few hours can enhance your chances of getting their business by up to 70% and turn your visitors into your clients.

5. Be More Than a Sales Agent

Don’t always focus on selling the property and earning. Act as a true consultant. If your clients have asked you to look for specific types of homes or properties then shortlist those properties and guide your clients about the advantages and disadvantages. Try this step instead of only focusing on selling without proper research and acting as a guide.  

6. Be Passionate About Helping People

A real estate agent must be enthusiastic about helping people. Help people find good properties within their budget. You will gain a positive rapport and reputation this way and in turn, will also increase your clientele.

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Hiring a professional advisor: The herd mentality of the common man believes more in an inexperienced broker than a qualified and experienced advisor. We tend to shower money on attorneys only after some damage, save ourselves some or rather, a lot of money. You ask the whole IIT questionnaire while buying a washing machine but blindly believe a mediator while buying a property? Hire a real estate professional, the fact is they are good with paper and words plus the legal due diligence will save you from future litigation expenditure.

Verifying the seller: Before you buy a house and wire a hefty amount to your builders account, take a background check, the advisor might come handy here. Check for any proceedings against the builder and its projects, ask for documents like the title deed, approved layout plans and others. Question the agent, you can even post your queries on online real estate forums. If any more doubts then do visit one of builder’spast projects to have a look at construction quality, the maintenance and repair facilities.

Taking into account a property’s Resale Value:It is often for buyers to lookout for new home after few yearsof staying at one home. That’s why it’s important that when purchasing your dream house, you remember that many things can happen in the future that might mean you’ll have to sell quickly. This is why you should discuss current trends in the area and what might cause them to fluctuate so you can decide whether or not this is something you’ll want to do down the road – regardless of how many years away. Buying a house isn’t simply acquiring a place to raise a family or starting a new chapter in your life. It involves an investment that should increase in value over time, but make sure any potential problems don’t get in your way from being able to enjoy the experience!

Adding a female co-owner: If you’re an independent woman buying a property, then the following will apply to you too. Home loan benefits are multi-fold for women who want to buy a house as the government and financial institutions are taking various steps to incentivize women to buy a house. Delhi, UP, Punjab, Haryana, and Rajasthan, offer relaxations in stamp duty for women buyers. Additionally, many banks such as SBI, HDFC, ICICI, etc., offer discounts on home loan interest rates to women as compared to men. This varies from bank to bank and goes up to nearly one percent. There are several benefits to buying a property in a woman’s name, either as the sole owner or as a joint owner. 

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RERA has impacted the real estate sector in many ways. Few of them are –

Removal of false practices

In the past, many have taken advantage of individuals who are unfamiliar with the real estate market. With the advent of RERA, this has been much decreased since every developer and dealer must now be registered and display a RERA number before a trade can be conducted. People who are purchasing property in Noida Extension and other areas might have seen the effect as the release estate market of Noida has become transparent and fair.

Standard Sale Agreement

Giving both buyers and sellers equal authority is one of RERA’s most sensible improvements to the real estate sector. Many builders used to incorporate penal provisions against property purchasers, and they were also fined if something went wrong. When the same thing happened to the buyer, however, there was no or little penalty provision. With RERA in effect, all parties must equally create and enter into a standard model.

Return of Investor’s Confidence

Property, as we all know, will be pretty profitable in the long term, and it is conceivable that the formation of the regulator would greatly assist the industry. Long-term institutional capital inflows will be observed due to the recovery of investor confidence, and many segments will resume their revival phase. This is highly advantageous to the real estate industry as a whole.

Wrapping Up

As a result, now that this beneficial act is in place, the real estate business and its stakeholders can only look forward to a longer journey. We hope that RERA succeeds in bringing about significant change in the sector and assisting buyers in more ways than they could have imagined. The main point is that this act can create a positive impact on the industry and the buyer.

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A real estate investment comes with enormous advantages including safety of your capital and the dividends in the shape of a roof above your head not to mention the satisfaction calling a place as your own and what not to say about commercial real estate, it’s a gold mine waiting to be discovered. Real estate sector in India is expected to reach a market size of US$ 1 trillion by 2030 from US$ 120 billion in 2017 and contribute 13% to the country’s GDP by 2025. India, a rapid developing country, a large population means a large demand and that means a quicker and more reliable, and Indian production line. India needs quality infrastructure and real estate is a fundamental part of a growing economy.

According to the data released by Department for Promotion of Industry and Internal Trade Policy (DPIIT), construction is the third-largest sector in terms of FDI inflow.  Indian real estate developers have shifted gears and accepted fresh challenges. The most marked change has been the shift from family owned businesses to that of professionally managed ones. Top builders in Noida such as Ace group have been investing in centralized processes to source material and organize manpower and hiring qualified professionals in areas like project management, architecture and engineering. In Ace’s case one example is the reputed and Padma Bhushan awardee Indian Architect Hafeez Contractor, who designed AceParkways’ elevations followed by Sanju Bose, renowned landscape designer who outlined and detailed the landscape of Parkway – a residential project in sector 150 Noida.

Bank FD rates are less than inflation rates, gold is volatile like fuel, the stock market is unpredictable be it mutual funds, index or individual companies it’s too much risk for an Indian pocket and on the other side the potential for appreciation, the safety, the low risk with high returns make the real estate market an intelligent investment, with all the cards in favor it’s time you pull your money out from your 5% returns savings bank to commercial and residential real estate projects. As it is said don’t wait to buy real estate, buy real estate and wait.

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Noida isn’t a city, it’s a lifestyle. It’s the first piece of growing India, the first slice of a more greener and an economically booming India. A city which will appreciate your investment as soon as you commit to it or otherwise you can be complaining a decade later in your lease apartment, neither with a home you call your own nor with the money because well, the rent took swilled it all up.

Greenery is complementary to Noida, so is the term called opportunity, Noida is not only an MNC hub it’s the commercial hub as well with India’s 3^rd largest mall as a crown. The UP government hasn’t compromised the greenery of this city, with more than 45% covered in green the air is fresh and pure to breathe. An almost no power outage possible situation in selected sectors and an easy connectivity to Delhi and NCR makes Noida the most desirable city to buy in.

Noida offers you a greater return on your investment, better connectivity, preferable living standard, finer management, a superior life, and an economy walking streets ahead of neighboring options. The potential in Noida is apparent and has a lot of marathons to run, invest before it’s too late and you might be able to avoid the regret.

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Since disruption has configured the new normal, great strides are being taken by realty sector players to capitalize on this through advanced and innovative methods. Virtual home tours, automation in the housing sector and penetration of artificial intelligence have given substantial ground for smarter advancements. Multiple tempting offers, discounts and affordable home loan rates are also inducing potential homebuyers to step into the property market.

Additionally, offers on the properties from multiple builders have made their possession more lucrative to the end-users. This holds especially true for the market growth in selected places like flats in Noida extension. Despite the apprehensions of consumers due to unsteady market sentiment, a large percentage of them are coming forward to seek the best offers.

Also a dramatic shift in trends, for instance owning a house in the township has become extremely crucial. Consumer preferences have deferred the “traditional” real estate structure and switched to modern complexes that offer various add-on benefits like spacious ambience, work benefits and different mediums of entertainment in and around the vicinity. Subsequently, real estate developers, like builders in Noida, are also meeting this emerging trend by addressing these new-found advanced demands.

Home seekers are not shying away from investing in far-flung properties since the work-from-home model is popularized as a norm now. Projects in Noida extension have seen a shift in purchasing patterns as potential home-owners are pursuing better alternatives irrespective of the distance from their office spaces.

Contribution by the Indian Government to grant Credit Linked Subsidy Scheme (CLSS) in the realty sector has been advantageous for end-users, especially first-time home owners. Up to Rs. 2.7 Lakh interest subsidy is granted to people that fall into the category of Economically Weaker Section (EWS), Lower Income Group (LIG), and Middle-Income Group (MIG). The Government had positively offered to extend the interest subsidy to the eligible people till March 2021, which has proven to be a boon for the sector amidst the Coronavirus crisis.

The spurt in home-ownership as opposed to renting out property is also the current preference in the real-estate consumer segment. Ease of EMIs and relaxed payment structure has contributed to this to a large extent.

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