Sep 25, 2024
By: Prerna Tyagi
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India’s real estate market is set for a seismic shift, growing at a massive 16% annually to hit USD 10 trillion by 2047! Let’s dive into the six factors that will shape the future, according to a report by Colliers.
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By 2050, more than half of India's population will be living in cities, fuelling massive demand for housing, offices, and retail spaces, especially in cities like Mumbai, Delhi, and Bangalore. Expect smaller towns and peripheral urban areas to grow into real estate hotspots too!
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India’s infra is getting a major upgrade with projects like the Gati Shakti Master Plan, industrial corridors, and the Golden Quadrilateral. This will trigger a wave of real estate development in tier II & III cities, bringing modern amenities and commercial hubs to these areas.
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The digital revolution is reshaping Indian real estate. Data centres are also emerging as a high-growth asset class, catering to India’s data boom.
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By 2050, the median age will rise to around 40, with the urban population hitting 50%. The surge in first-time homebuyers, combined with an ageing population, will drive demand for everything from starter homes to senior living communities.
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With sustainability being a key focus, developers are adopting eco-friendly designs at every stage of construction. Green certifications for offices and homes will soon be standard, and renewable energy usage will rise, creating future-ready, environmentally conscious spaces.
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Indi's real estate is attracting massive foreign investments, with over USD 60 billion coming in over the past decade! Institutional investors are now eyeing not just residential properties, but assets like data centres, senior living, and even healthcare facilities.
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Real estate is evolving beyond just homes and offices. Senior living communities will cater to the growing ageing population, co-living spaces will be a hit with young professionals, and data centres will boom due to the increasing demand for digital services.
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Move over, metros! Smaller cities and towns like Lucknow, Surat, and Coimbatore are emerging as the next big thing in real estate. With affordable housing, business opportunities, and infrastructure developments, these cities will see a real estate boom like never before.
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As India reaches its centenary year of independence, its real estate sector will be a cornerstone of the economy. With cutting-edge technologies, sustainable practices, and global investments, the market is expected to contribute up to 20% of India’s GDP. Its future looks bright!
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