The future of real estate | realtors | buy property

future of real estate

Real estate is one of the fastest-growing markets in India. It is also the worst affected industry by the pandemic. However, the industry has absorbed the shock and doing great. Due to its sudden rise many youngsters or people are thinking of coming to this industry while many of the netizens are investing in the real estate industry as a future investment. So, in this situation, it is important to evaluate the future of the real estate industry overall. In this blog, I will evaluate the future of the real estate industry.

 

A. The future of real estate -forecast of the real estate market:

1. Price will increase:

The biggest truth is that the population is increasing rapidly and it will increase. There is no such way, by which it can be stopped. So, the prices of land or property will increase too. So, if you are investing in real estate or thinking of investing in real estate, trust me, it is one of the best ideas. However, do not forget to check all the legal papers before the investment. You can get help from a lawyer.

To get the highest return you need to invest in the right place. For example, if you invest in an urban area or in an area like Newtown, Rajarhat (the new economic zone of Kolkata), you will be able to make triple the money after a few years.

2. Urbanisation will be doubled:

This point can be called the continuation of the first point. The rapid population growth is demanding more jobs, better infrastructure, better living places & better communication systems. So, the government of India and various states are focusing on rapid urbanisation. This will also increase the prices of properties. To get the highest return you need to invest in a place which has the future. For example, Newtown is the new economic zone of Kolkata. Many famous IT hubs have already opened their offices here. You can expect more urbanisation here and the price of the properties will also increase. If you want to buy a 2BHK flat in Newtown, connect with Realtech Nirman now.

3. Rental system will increase:

The key to a successful business or investment is the vision. You need to be very practical. If you think practically, you will be able to see that most of us switching cities for our career advancement and this trend will increase with time. So, the demand for the rental apartment will also increase. So, if you are thinking of making an investment in the real estate market, you should buy a property where jobs are available. For example, Newtown of Kolkata, Electronic City of Bengaluru etc. From these places, you will be able to get the highest return.

4. Can reduce the affordability:

Again if you think practically, you will realise that with a rapid population, the demand will increase rapidly and it will be extremely in the job-centric areas. So, naturally, the affordability rate will decrease. So, if today you have the capacity to invest in real estate, do it now. Even if you are investing in a rural area, do it now cause even that rural area will turn into a quite developed area after some years.

5. There will be a push towards sustainability:

With rapid urbanisation, the eco-system is getting hampered and people are concerned about it. The government is also taking various steps for it. It is true that we can’t stop urbanisation. However, we need to be very careful about it. Many of the builders are also playing a crucial role in protecting the ecosystem. For example, Realtech Nirman make sure ample amount of greenery in their every project. There are chances that the government will be more strict about it and will make some laws as well. So, if you are thinking of investing in real estate, invest in a project which has greenery and working towards power sustainability too. Otherwise, the reselling value can drop.

 

B. Why is real estate a good investment option?

1. Security:

If you invest in shares, there are risk of falling. If you invest in FDs, there are risks of lowering the interest rate. However, with this rapid population rate, the prices of housing will increase only. So, it is one of the safest ways of investment.

2. Higher return:

We all want to invest in a field where we will get the highest return on our investment. Real estate is that kind of field where you will get double or triple the amount on your investment. As I have mentioned already, due to the rapid population the prices of property will increase rapidly, specifically in the job-centric areas. So, if you invest in Newtown today, you will be able to sell that flat at double the price after a few years.

3. Alternative income source:

The harsh truth is we can’t depend on one income source today. We all need some alternatives and real estate can be that for you. You can put your flat on rental and can earn. Isn’t it the easiest way of alternative income source?

4. Tax benefits:

Purchasing real estate has several tax advantages. One can save up to Rs 1.5 lakh on a house loan’s principle under section 80C. Similarly, section 24 allows for a reduction of up to Rs 2 lakhs in the mandatory interest payment.

 

It will cut the cost of real estate investing and drastically reduce taxable income.

 

A range of expenses are eligible for tax deductions, including cash flow from other assets, business expenses, and mortgage interest.

5. Reduce your risk factor:

According to the experts, the other modes of investments such as the stock market, gold, cryptocurrencies, and banks are risky. I am not telling you not to invest in these markets. I am telling you to invest in real estate first which will help you to manage any unforeseen situation. Real estate prices will increase and you can sell it anytime. In short, real estate property will work as a buffer for you.

 

Some common FAQs Releted to Future of Real estate 

 

Is buying a flat in Newtown too costly?

No, it’s not. Connect with Realtech Nirman and you will be able to get a 2 BHK flat from 24 lakhs onwards. So, I don’t think it’s too costly.

Do I need to hire a lawyer to buy a flat?

I think you should. A lawyer will help you to check the authenticity of the legal papers which will determine the future of your property.

Is real estate a stable market for investment?

Yes absolutely. The market is growing rapidly and you will get a good return too.

Why should I invest in real estate?

Investment in real estate will help you make an alternative income source, will help you to get quick money in future and will also work as a money source for the future. The prices of the properties will increase only which will ensure your highest return.

What are the criteria I look for before investing in real estate?

There are various criteria such as

1. Check the legalities of the property

2. Check the locality. If the law & order is not good, don’t invest.

3. Look for the amenities. For example, schools, hospitals, roads etc.

4. Check the future prospects of the area. For example, Newtown is the new economic zone of Kolkata. So, it has higher future prospects and you can invest here safely.

5. Check the amenities of the apartment as well.

How can I know that a specific area has future prospects?

You can check it by the employability rate. If it is a job-centric area like Newtown & the big brands are coming over here. Then obviously the area has a future prospects.

I have selected a flat but the law & order is not good. Should I buy it?

No. just cancel it right now. If the law & order is not good, you will not be able to stay there. Even you will not be able to put it in the rental either. So, basically, it will be a waste of money.

Why should I need to check the reputation of the builder? How is it relatable even?

If the builder is not reliable, they can leave some legal loopholes in the property papers. When you will get to know in the future, you will remain helpless and will not be able to resell it. At the same time, unreliable builders cause delays in handover the of ownership which creates a lot of issues.

 

Final words:

The future of the real estate market is pretty good. The prices of the properties will increase and so as the demand. However, it is important for you to evaluate some factors like the future prospect of the area, legalities of the property, amenities of the housing etc. before the actual investment. I hope this blog will help you to evaluate the future prospects of this market and will also help you in making the right decision.

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