Top 4 MMR Contenders Set to Dominate Indian Realty Market

Lately, the Indian real estate world has had its share of good and tough times. Things like uncertain economies, worldwide issues, and the COVID-19 pandemic were contributing factors to the bumpy ride the real estate market has witnessed recently. But despite all this, things seem to be bouncing back strong now that regular economic activities start to pick pace. One place where this shows is in offices – there's been around 35% increase in leasing as compared to the year before.

As we enter a fairly new phase of the real estate market, let's check out some big real estate trends that might shape the scene in India this year. 

Flexible Work Culture and Rise of Hybrid Office Solutions

As flexible work patterns gain ground, companies might embrace Return to Office (RTO) and hybrid work strategies. These strategies will involve understanding what employees prefer, setting clear RTO objectives, and recognising new ways of working. There are certain factors that come into play, like how employees travel to work, easy access and convenience in workspaces. Moreover, having flexible offices in MMR will be important factors for companies. 

Additionally, it is there is a bigger focus on making workplaces better and more engaging. Things like using technology, being eco-friendly, promoting health and well-being, offering services, building brand connections, and designing functional spaces will all be vital in making workspaces even better.

Sustainability Gains Importance

A report states that buildings are responsible for 40% of global greenhouse gas emissions. And since more and more people are trying to carry out sustainable and eco-friendly actions, they are also looking for real estate options that are green and environmentally friendly. Today, it's not only about doing the right thing but also being responsible. Whether it is someone planning to buy a commercial property in Mumbai or rent a flat in Thane, they tend to give preference to sustainable designs. 

And this is the reason why we are coming across many more green buildings in different areas, especially in areas like MMR. Another recent report suggests that by 2030, around 50% of the market could most likely comprise such sustainable buildings. This trend is happening has started to pick pace in the office sector too. 

Technology Integration Becoming Vital 

Digital tools have become extremely important for making property management better and also for making supply chains stronger and more prepared. The attention towards investing in digital solutions is gradually growing, becoming a key aspect throughout the entire lifecycle of real estate. This covers everything from starting a project, making a big plan, managing properties, taking care of portfolios, and much more. 

For the industrial and logistics sector, technology is now more about managing what people want and what is available instead of just keeping an eye on how things move around. In addition, the Retail sector has also been using technology a lot to get people to come back to physical stores. This means that the blending of in-person shopping and online shopping will likely continue to be a big strategy for retailers in the coming year.

Home Search Going Digital

While online shopping has been around for quite some time, its significance has surged across various industries, particularly in response to the pandemic. The real estate sector is also in its initial phase of going digital. It is only a matter of time before buying houses and buildings online would be the new normal. 

In recent times, individuals have turned to digital platforms to find their new abode. Whether they are looking for a flat in Thane or a villa in Navi Mumbai, you have it all just at your fingertips. Furthermore, various components that are crucial to the home-buying process, such as virtual property tours, broker fees, rental expenses, deposits, lease contracts, and even home loan applications, have transitioned to digital realms. This transformative shift is poised to play a pivotal role in influencing real estate transactions in the foreseeable future, reshaping the dynamics of the real estate market.

Conclusion 

In recent times, the real estate sector has undergone notable transformations. Adapting to the dynamic landscape is crucial to align with economic shifts and evolving preferences. In the coming years, technological integration, sustainability, flexibility, and online property searches are most likely to take centre stage. 

By staying attuned to these trends and regulatory enhancements, the real estate sector can not only flourish but also address the ever-changing demands of buyers and investors. We hope that this information will help you gain a better understanding of the realty market and might aid in your search for flat in Thane, Mumbai, or Navi Mumbai.