The government has sited the significance of the real estate sector for the economy and has undertaken thousands of measures in recent years which, include initiatives such as introduction of the Real Estate (Regulation and Development) Bill, the National Land Acquisition and Rehabilitation & Resettlement Bill (NLARR), relaxing criterion applicable to External Commercial Borrowings for the affordable housing sector, permitting FDI in multi brand and single brand retail to increase investor confidence, promoting private sector participation in infrastructure development, introducing changes in the area restrictions in the existing SEZ policy, supply side initiatives such as relaxation in development control regulations etc.
Since India continues to associate itself with the global economy, there has also been a constant effort on the part of other market stakeholders to adopt international standards and best practices while promoting transparency and fair practices so as to coordinate industry dynamics with consumer expectations. As a result, the real estate industry landscape of the country has recognized progressive transformation into a dynamic sector with rapidly evolving trends. Click here to read about Benefits of real estate franchise.
There are four big major emerging trends that are of both real-time and long-term significance, from the various factors determining the way real estate industry has developed, transacted and used in India:
Co-working spaces are darting up across Indian metros as well as tier-II cities, and are helping many start-ups get flexible working options at affordable prices. These spaces offer desks at cheaper rentals, with some of them allowing a rent-free period apart from services and an office-like look-and-feel to potential start-ups.Unusually, the trend of start-ups that buy/ lease real estate in order to sub-lease it to such tenants is also on the rise.
Crowd funded realty projects:
Crowd funding helps the innovators and inventors to raise money for launching their products or services encircling the internet. This practice involves raising small amounts of money online, from people across the globe. While other industries have seen the emergence of a more compelling crowd funding scene, real estate industry still has a lot of to catch up with.
Rise of office-retail complexes:
As a large portion of the day of a working individual is at the office during week days, retail services benefit excessively by locating themselves nearby, or within, business districts. Retail categories such as office formals, telecom services, high-end fitness centers, leather bags and accessories, premium salons, eyewear and mobile manufacturers are now all looking cordially at office retail complexes.
These workplaces are becoming more common across the globe, researches on the budgets of clients’ interior build-outs are showing very positive results, with IT costs increasing at a faster rate. Previously, they were only around five per cent of the overall construction budgets.
With these emerging trends we at Regrob not only provide you with the best deals for your chosen space but also give you the opportunity of becoming an entrepreneur in this sector by owning a franchise of your own preferred location.
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