By Shravan Gupta.
Mumbai: Real estate has evolved completely. Gone are the days when consumers were happy with small homes. Today the need of the hour is to go for Large and Luxurious homes with a modern approach. Shravan Gupta, MGF Group feels it is a positive change and will pave way for a greater demand.
The growth of a sector is determined by the consumer choices. Consumer preference has undergone a complete transformation in 2024. This may be due to the rising desire for bigger homes with modern amenities. A similar sentiment is also visible in the commercial sector. The upcoming new commercial hubs are the living proof of the changing consumer mindset. Most of these are coming in cities like Indore, Chandigarh and Nagpur.
Here are some more reasons for the changing consumer mindset.
Investment angle.
People have realized the value of owning a home. And this sentiment has progressed since the post, covid era and Builders have capitalized on this changing sentiment. In the current scenario, there is no better investment than real estate. The consumers have realized real estate as the most potent tool. As it guarantees a constant cash flow tool and investment portfolio diversification tool. It plays an essential role in boosting your regular income.
Shravan Gupta, MGF Group believes under the current scenario real estate investment is the best option. As no other investment guarantees constant cash flow. But real estate does as the rents will only keep rising in the future.
Apart from the Investment angle, the changing mindset is also determined by the choice factor. The consumer today has the power to choose to live a better life. A choice not available in earlier times. A good example of this perception is the flow of real estate development in non-metro markets. Shravan Gupta, MGF Group believes the construction is only going to increase in 2 tier cities. It may be due to the WFH factor and the affordability quotient. It is hard to buy a big home in cities like Delhi and Mumbai. In comparison, it is easier to buy a bigger home in much lesser price in towns like Indore and Nagpur. This has drawn many consumers to these places. Some believe this sentiment will only continue to rise in the coming months.
Also, there is the promise of a clean environment and a luxurious lifestyle in affordable money.
The Technology angles.
And ultimately, the technology has eased the sales and boosted the sector like never before. It is relatively easy to find the home from the comfort of home and research about it. This has attracted the buyers from Metro cities to Non metro cities. There are websites like property.com which give all the details about the property and its surroundings. This has also led to a growth in commercial real estate. It is easy to find the office for rent online and invest in it.
2024 is going to be the year of real estate due to these changing mindsets. It is time to be a part of this change and grow real estate more.
