By Shravan Gupta.
Mumbai: Indian real estate has undergone a complete overhaul and is bound to change more. Most real estate experts are of the view that real estate as a whole is on the revival path. Such a change is visible from the emergence of new constructions and bigger homes. There is an increase in demand for newer and better homes.
It won’t be wrong to assume that 2023 is going to be the year of real estate. People have realized the value of possessing a home. It is beneficial in every scenario and a good way to secure the financial future. This change of attitude is attributed to factors like:
– Changing viewpoint- gone are the days when home was considered a luxury. Today most people consider homes a real treasure. Something which is always there for you in the need of the hour.
Government too is keen on incentivizing real estate to boost the economy. Some ways to boost real estate are simple yet essential like:
– Tax incentives.
Banks and the Government have analyzed the real estate market. Tax incentives seem to be the way to boost the sector. Incentives act as a boon for property developers like Shravan Gupta. This will attract more investment in the housing sector from companies and HNI individuals.
– Green building technology.
Green building is the latest concept amongst builders and youth alike. The green building trend has been on the rise as it offers nature and luxury in a single space. It is high in demand hence incentivization can help here. Shravan Gupta feels technology plays a vital role in lowering construction costs if one uses green technology. Government can incentivize builders who make buildings using green technology as it attracts new HNI customers. It will play a vital role in boosting the real estate segment.
– Affordable housing.
It is the need of the hour to make housing affordable and available for everyone. Affordable housing is a safe option when it comes to long-term financial security. Experts like Shravan Gupta feel affordable housing will go a long way in boosting house sales.
Additionally, it is an excellent platform to encourage construction of new buildings in tier 2 and 3 cities. After positive feedback from the experts, builders are now making plans for affordable housing complexes.
This has been made possible due to efforts from the government and banks alike.
– The right location.
The right location goes a long way in making incentivizing homes. If a house is located in a prominent business area, then it will sell more. Builders feel incentivization is an optimum way to boost sales for new projects.
A house is the best form of investment as it will always grow. An enlarged focus on housing makes it an ideal form of investment. This holds for both investors as well as builders. Shravan Gupta MGF feels this will lead real estate into a new dawn of tomorrow.