Indian Real Estate in 2023: Unleashing its true potential
Driven by economic stability, policy reforms, and changing consumer dynamics, India’s real estate sector has registered strong growth with a massive uptick in demand in 2023.
India’s economic stability has played a pivotal role in the resurgence of the real estate market. With a robust GDP growth rate and a focus on infrastructure development, the country’s economic dynamics have also provided a fertile ground for real estate investments. Stable economic conditions instil confidence among investors, fostering a conducive environment for property transactions.
Nayan Raheja of Raheja Developers says, “The Indian government’s proactive measures and policy reforms have been instrumental in revitalizing the real estate sector. Initiatives such as RERA (Real Estate Regulatory Authority) and PMAY (Pradhan Mantri Awas Yojana) have enhanced transparency, accountability, and affordability, making real estate transactions more secure and accessible to a broader spectrum of the population.”
Rajesh K. Saraf, Managing Director of Axiom Landbase Pvt Ltd, says, “Changing demographics and evolving lifestyle preferences have led to a shift in what Indian consumers seek in real estate. The demand for modern amenities, sustainable living spaces, and well-connected properties has given rise to innovative projects catering to homebuyers’ contemporary needs.”
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The advent of technology has also significantly impacted the real estate sector.
“Online platforms, virtual tours, and digital marketing have revolutionized how properties are showcased, and transactions are conducted. This digital transformation has streamlined processes, increased market
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