The real estate sector in India has always been on the rising side. Though the pandemic had hit this sector too, the industry bounced back with more potential and better services. The real estate industry in Bangalore continues to be the frontrunner when it comes to the growth and development of this sector.
To maintain its position and contribution to the economy, several new trends are emerging in the real estate sector.
Here is a list of a few of them
1.Adoption of New technology
New and innovative technology is being adopted by almost all businesses for better services. The real estate industry is also not behind when it comes to going digital. 3D views, virtual tours, smart homes, digital construction are some of the innovations that will help transform the industry in the years to come.
2. Digitized Home Buying
The ‘new normal’ got its real meaning in the real estate sector when developers helped potential home buyers to explore options through digital platforms. Now homebuyers can visit properties virtually. Options like video conferences, online payments, digital signatures, have contributed to making digitized home buying a reality.
3. Affordable Housing
The increasing trend of affordable housing is likely to continue in the coming years. Ready to move-in properties are turning out to be the most preferred option for home buyers. Builders are also coming up with offers, discounts, and seasonal sales to attract more potential buyers.
4. Various Tax Benefits
The budget of 2021 has helped people to enjoy the tax benefits on affordable housings. Deduction in home loan interests till March 2022, the decision on extending tax exemptions has worked as a sign of relief for potential home buyers and has increased their interest in buying their dream home.
The Garden City is home to various real estate projects with all the latest technologies in place. With the growth rate rising upward, things are definitely looking good for the real estate industry in Bangalore.