Growing Age of Real Estate

"The best investment on earth is earth." -Louis Glickman

In today’s corporate world driven society people always need some moments of relaxation after a tiresome day at the workplace. Irrespective of big and small spaces a person wants that cozy comfort. That’s the moment they step forward to invest on a quality project of real estate with high-end amenities provided with.

With the advent of new and booming technology the business of real estate has witnessed a paradigm shift. Earlier people was concerned about the raw materials of their houses but in today’s world people are more thoughtful about how their homes will look from inside, here the confluence of real estate and interior designing has taken the center stage.

Where real estate and construction business is all about the civil engineering science, on the other hand the interior design is science of craft which plays a major role in the aesthetic perspective of an infrastructure.

The last few decades have seen a resurgence of real estate business when it is wrapped in the golden foil of interior designing.  While the emergence of interior design market was accredited to the real estate sector because it is the outer layer on which interior design will put forward their designing skill.

The economists have estimated the growth of interior design sector worth $20-30million.The Real estate sector has surpassed all its previous records. According to the Budget 2023-24, capital expenditure on infrastructural investment was increased by 33% worth 10 lakh crore for the coming year. It is covering 3.3% of GDP, thus giving a stress over the real estate and infrastructure growth and giving birth to many sources of employment opportunities.

After the major strike of COVID-19 the urban corporate life comes to a stand-still. People started spending the whole time sticking to the four walls of the house. Schools and offices came down to the drawing room of every urban dweller. That’s the small hole through which the concept of interior design penetrated so well that it became a craze in the short span of few months. Now anyone who invests in the real estate sector always confirms and checks how the spaces are getting utilized in the right way. Sometime few buildings such as commercial buildings like hotels, business parks, and offices are made keeping in mind a certain theme related to the nature of the building for which it is built. At this point an experienced interior designer transforms the whole arena by a single touch of their expertise.

Now many a people are working from home on a regular basis, in such a case they need a proper office set up at their residence to optimize their working potential and to boost their working capacity which is somewhere missing in the cozy comfort of home like environment. So they are investing more to get that office like structure in their home. Recently it is being the trendsetter in the real estate business because maximum part of urban dwellers is leading corporate driven life.

People are now-a-days opting for theme based architecture for their homes and investing more on it. This is someway being the profit making tools for the promoters and builders. They are making more money than before when the fundamentals of construction were the main thrust area. People are more drawn towards enhancing the aesthetic beauty of their living space being close to nature. Here the concept of green city comes into play. 

Government of India is playing a key role in emergence of the real estate sector.  Government is investing on the development of the Tier II and Tier III cities and making use of the local materials for the constructional work which in turn beneficial for the real estate sector as a large chunk of people from every sectors of economy are investing on the real estate sector for making their budget home under ‘Pradhan Mantri Awas Yojana’.

The pioneer builders and interior designer farms like Prestige, Sobha, Brigade, and Embassy are investing more on the commercial building and constructing giant sized business parks and tech parks in the IT hubs of India. These parks are the houses of many corporate brands that are fetching hefty profits from their business. Surprisingly according to the statistical data, the construction of commercial building is 60% and residential building is 40% by the end of last year. With the ever increasing demand the tech parks the ratio will be the same in the forthcoming years.

 After achieving a certain level of development in infrastructure and real estate sector, new concepts are getting involved into it thinking about the safety of natural environment. In today’s metro cities the level of pollution is increasing at high speed. After the introduction of green city concept the builders of the high rise buildings are designing the surrounding with the lashes of green which gives a soothing effect amidst the pollution of the city life and at the same time it is modifying the aesthetic aspects of the building. Making the optimum use of the solar energy builders are making solar panels for making and saving electricity and using solar heat in solar geysers. This cost effective features are fetching them popularity in the market as people are hurling to get those features in their homes.

Conclusion - Besides being profitable business it is very crucial for every builder to have a clear idea about the regulations and the by-laws before buying a land in any place. Otherwise the invested money will go in vein if it is illegal and on top of that you have to pay a lump sum amount to government as fine. So as a business it is very profitable as the urban population is bulging day by day but with proper legal papers, or else you will defame your name in the game.