High rise apartment living is increasingly getting popular among homebuyers. There are multiple factors behind such growing popularity of high-rise apartment living. There has been a fascinating shift in urban living preferences. Urban skyscrapers are changing the lifestyle of millions of people across metro cities. Such high-rise buildings are also fuelling redevelopment projects.
Skyscrapers have a profound impact
Rents in seven cities across India, including Delhi, have risen by as much as 70 per cent over the past six years with the major jump occuring in the last two years, according to a recent research by property consultants ANAROCK group. The research covered 7,615 aged 24 to 78 respondents from across 14 cities.
The Maharashtra Real Estate Regulatory Authority (MahRERA) has introduced a new clause in the model sale agreement, a document used by builders as a reference when preparing actual sale contracts. Clause 15A recognises the right of real estate agents, or property brokers, to receive payment in the form of fees, charges, commissions, or remuneration for services.
As urban areas in India rapidly expand, the need for sustainable development becomes increasingly critical. By 2050, it is estimated that nearly 68% of the global population will reside in cities, putting immense pressure on infrastructure, resources, and the environment. In India, where cities are experiencing unprecedented growth and transformation, this urgency is amplified. Urbanization is not just changing the physical landscape; it is reshaping the social, economic, and environmental aspects of urban life.
India's senior living housing sector is expected to skyrocket over 300 percent by 2030 to $7.7 billion (Rs 64,500 crore), according to a joint report by real estate consultancy JLL and Association of Senior Living India (ASLI).
The Noida Metro Rail Corporation (NMRC), which currently operates the Aqua Line in Gautam Budh Nagar, said on Wednesday that it will sublease its commercial properties along the line to raise more non-fare revenue.
India’s luxury residential real estate is poised to grow swiftly driven by increasing investments from the community in view of long-term benefits and a high quality of life. This rise can be attributed primarily to the shifting trends in investment tastes and motivations of ultra-high-net-worth individuals (UHNWIs). The desire for premium living spaces has increased as evidenced by the significant growth in sales of premium residences priced at Rs 1 crore and above, which accounted for 41 per cent of total sales in H1 2024.
Midsize real estate firms in India are re-establishing their market presence as the sector experiences an unprecedented upswing in sales. This resurgence follows an extended period of consolidation, primarily led by large corporations.
These midsize entities are reclaiming market share by concentrating on agile, niche developments that align with changing consumer preferences.
Bengaluru housing market witnessed an 8% decline in registrations in the July-September 2024 quarter recording 25,259 residential units with the Inspector General of Registration (IGR), according to data shared by proptech platform Square Yards on November 13.
Bengaluru residential real estate saw a dip of 8 pc (YoY), sold houses worth ₹15,739 crore, it showed.
In the property market, two types of properties are primarily available: The first is ‘under-construction’ properties, and the second is ‘ready-to-move’ properties, which are ready for use as soon as they are purchased. The biggest advantage of ready-to-move properties is that the buyer can either start using them immediately or rent them out to earn a monthly income.
Additionally, buyers of such properties do not have to worry about possession issues.
