The Indian Real Estate market has been evolving in the past few years, and mostly it is witnessing certain trends that will shape the market in 2020. To mention some it can be – affordable housing, virtual reality, commercial real estate, home automation, etc. This particular sector has seen massive changes in the tax system, economic context, regular framework that are introduced by the Government. The transparency has inspired the corporate investors to review this market with greater enthusiasm and freely invest in the Lucknow market.
It will be interesting to see how the use of state art technologies, intensified competition, demographic changes, and other vital factors are going to influence the investors in this sector. To mention out here, the upcoming Real Estate market is Lucknow and there are some of the Best RealEstate Agents in Lucknow.
Here are some of the most emerging trends which might shape the property market in 2020 –
1 – Constant Demand for Office Spaces:
Practices and policies are being drafted in favor of Small and Medium scale businesses, and constant efforts are also done to promote start-ups. Therefore, commercial spaces are likely to increase even further and keep the market upfront with growth. There has been an expansion in the banking and technology sector as well, due to which constant demand for office spaces is expected to prevail in 2020.
2 – Development of Urban outskirts:
Real Estate in Lucknow has seen tremendous Urban Development, as many businesses and other individuals are making their way to the city’s suburbs. They can find their dream home, which can be luxury flats in Lucknow or Villas or even Flats in Lucknow. The real estate may experience a suburban shift.
3 – Race for Amenities:
These days, housing projects have engaged themselves in offering new amenities like movie theatres, Podium gardens, high graded restaurants and many more in the list to lure the urban renters. In Lucknow and other cities, you can consider amazing luxury flats, 2bhk and 3bhk flatsinLucknow and 3bhk and 4bhk flats in Lucknow all surrounded by a lush green landscape, gyming areas and swimming pool. Real Estate in Lucknow is surely going to join this race for the amenities in 2020.
4 – Affordable Housing:
Affordable housing has always dictated the real estate sector. With numerous Government efforts, home prices have become transparent and affordable. Developers have come up with innovative solutions to lower the cost of homes and bring them within the buying range of the majority population. The key focus is on the NRI homebuyers.
5 – More Focus on Lucknow and other cities:
Improved connectivity, affordability, enriched infrastructure, availability of quality projects and remote working options have led to a shift in investors towards the upcoming city – Lucknow and other cities. Homebuyers realize that they can enjoy the benefits of a metro life by living in these mentioned cities at a competitive price.
6 – Home automation:
Automated homes are new things in the real estate market. Their eco-friendly and energy-efficiency are taking the housing industry rapidly. The present generation’s love for technology, automated homes ensure complete safety and comfort for homeowners. They are intelligently designed to meet the end-users needs. More millennials entering the homebuyer’s segment, home automation can be the key to increase sales in 2020.
Meeting the demand for residential units while abiding the budget limits of the client would be a major challenge for the real estate developers in Lucknow. E.g. – Flats under 30 lakhs, Flats under50 lakhs, 2 bhk flats in Lucknow, etc. are some of the examples of the related demands. Real estate in Lucknow may direct its efforts towards making these ends meet.
An article by Nidhi Rastogi