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If you are planning to invest in real estate, you would be interested in knowing the right business strategies that work out in the sector. The market is shifting to the affordable housing segment gradually. The government has taken a number of measures to foster the growth of the real estate industry. It is important to focus on the price and size of the property you are willing to invest in. The real estate developers are coming up with compact residential complexes. This is a move that will help them to carry out their business in the coming years. With the affordable housing policies coming into effect, the middle-class homeowners will look out for compact homes that come at reasonable prices.
The real estate developers across the country are focussing on building apartments with small configuration. The idea behind this strategy is to make these homes more affordable. As a result, they are reducing the sizes of these apartments. The prices of these homes are coming down to a great extent. A customer-centric approach for the developers is effective in delivering the right kind of home to the buyers. Rather than focussing on premium apartments, the developers are coming up with affordable homes, small in size.
The real estate prices are likely to decrease, once this strategy is adopted throughout the country on a full scale. Last year, around 44% of the total home launches in the top seven cities, involving 55,000 homes, was priced under INR 40 lakhs. This indicates that the trend of small sized homes at low costs is already in the country and is likely to grow stronger in the years to come. The ‘Housing for All by 2022’ policy of the government is likely to foster home buying in the coming years, and more developers will come up with affordable homes for the residents,
Today, the developers are focussed on the requirements of the customers, considering their sales mechanism. In the top seven cities of the country, the average prices of the apartments have fallen to a considerable extent. This is a clear indicator that the affordable housing policy has influenced the industry to a great extent and the developers are interested in tailoring the homes, according to the needs of the homebuyers.
Reducing the size of these apartments is a tricky decision for the developers. However, this is a good move, considering the spending powers of the homebuyers. If you are interested in purchasing residential real estate in India, you can get an affordable home. The apartments in the big cities are now available at price ranges between INR 20 lakhs to INR 25 lakhs. This has given a boost to the industry. The sales figures are improving over the months. After the economic policies were implemented in the real estate in 2016 and 2017, this is a positive indicator of the recovery of the market. You can have a look at the upcoming residential complexes in the top cities and buy an affordable home that comes within your budget.
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