The start of a new year and new decade calls for new beginnings. The past decade has been crucial for the real estate sector and 2020 is the year where the market is set to transform and rise to its full potential. While 2019 was a slow year for real estate companies in Kolkata, recent reforms and steps taken by the government as well as other factors will change how the real estate sector will perform.
After analysing the performance in the previous decade and keeping in mind predictions for the coming year, here are some trends that could help you make your real estate decisions through the year:
- Growth in the Residential & Commercial Sector: With rapid urbanisation and an increasing shift to the service sector, the demand for commercial housing is set to rise along with the demand for affordable housing in many of the metropolitan as well as sub-urban cities. An increase in demand will lead to an increase in supply, leading to a boom in the real estate sector.
- Demand for Co-existing spaces: The current generation is moving away from restricted cubicles to open co-working or co-living spaces where entrepreneurs, freelancers and others can co-exist peacefully while sharing the costs. These shared spaces reduce the overhead expenses and the responsibility of managing your own space.
- Upgrading Technology: The only constant factor when it comes to technology is upgradation. Innovation and updated technology in construction have led to speedy building and erection of construction projects. Mivan Technology, an aluminium formwork system discovered in Malaysia is one of the most popular and useful technologies introduced in India. A huge number of houses can be constructed at a much faster speed using Mivan shuttering as this system of formwork construction runs the structural system in one continuous pour. When the formwork is removed a high-quality concrete finish is shaped with precise tolerances and verticality which invalidates the need for additional plastering. Along with that, Smart homes that heavily rely on gadgets are now trending among the urban class.
- Green and Sustainable Living: With the increasing threat to nature and global warming on the rise, most real estate developers are choosing alternatives to the usual polluting building practices. Using raw materials that are eco-friendly as well as choosing sustainable designs helps the environment and is on the rise to be the next big thing in the real estate sector.
- Customisation and Luxury Homes:Â The urban crowd and new-age buyers know what they particularly want and believe in having the best of things. Along with their homes, new-age buyers prefer homes where various amenities and facilities are available, that can help them lead an easy-going lifestyle.
Keeping in mind these trends, real estate companies in Kolkata are expecting 2020 to be a grand year for the real estate sector, making it a great year to invest in property. Srijan Realty, one of the leading real estate developers in Kolkata has various projects that are in line with the trends of 2020. Invest in the best decision of your decade by investing in Srijan properties. To know more, visit www.srijanrealty.com.
