The real estate sector in India has been growing by leaps and bounds over the past few years. At the current rate, it is projected that India is set to become a 5 billion dollar economy by the year 2024-25.
So if you’re planning on investing in property, especially in the city of Bengaluru, these are the future trends to be aware of.
Bengaluru is one of the fastest growing technology start-up hubs in India]n that provides more employment opportunities to millenials. Since then the demographic now has more disposable income than ever before, it has resulted in more investments to compact homes. This includes 1 and 2 BHK homes in Sarjapur road.
In addition to the growth in incomes, there is a sudden influx of affordable homes in the real estate market. According to recent studies, affordable housing has seen a growth of upto 22% during the financial year of 2018. This may be related to the fact that the government has recently extended the deduction of interest on home loans by at least Rs. 1.5 lacs.
With a pre-existing notion that Bengaluru is a real estate haven, there is an increasing demand for housing across all demographics. This includes millennials, senior executives, entrepreneurs and others. To cater to their requirements, exciting new projects have been built all across upcoming areas such as Sarjapur road, Whitefield, Kanakpura and more.
Among the working professionals and students, the concept of co-living and student housing has become extremely popular. These concepts have thrusted compact homes into the limelight, more specifically 1 and 2 BHK homes. With the city ever expanding, this trend doesn’t seem to be going away anytime soon.
Last but not least, there have been a number of government reforms that has made owning a house much easier than before. The introduction of RERA and GST reforms have made the housing sector improve by leaps and bounds. This attracts a significant percentage of India’s skilled workforce to the IT hub.
Keeping these trends in mind, it would seem that investing in property would be a wise choice at the moment. With a number of exciting new properties in the market today, the buyers are spoilt for choice.
There are numerous apartments for sale in Sarjapur road from trusted builders such as Saiven Developers that can help cater to a wide variety of requirements. Whether you are in the market for a luxury villa or a budget apartment, look no further than Saiven Developers.