Real Estate in India has gone through a lot of changes in the recent years. And it can all be attributed to the innovations introduced in the industry. Whether it was a new law by regulatory authorities, an advancement in technology or a new way of selling properties, many real estate innovations like these have made a significant impact on Indian Real Estate.
Here, we mention 5 of the most impactful ones according to us.
Online property marketplaces
Real Estate moving online is surely the biggest innovation of the past decade. All thanks to the easy availability of the internet, rise of tech start-ups and change in consumer behaviour. Online property portals put homebuyers in power, as they can now view all the properties in an area and the details related to them, and shortlist the ones they like. They don’t have to rely on a broker’s preferences to explore properties anymore.
Smart Home Automation
Home automation certainly sits at the top of real estate technology trends of the past decade. It totally transformed the living experience of homebuyers for the better. Though home automation was privy to ultra-luxury projects in its earlier days, the trend caught up, and now the technology can be seen in mid-level projects as well.
The RERA Act caused complete disruption in Indian Real Estate. The Act brought into the sector what homebuyers had been asking for a long time: transparency. For many dubious developers, it was a nightmare, as they could not make false promises anymore or misuse buyers’ hard-earned money. For reputed builders who had always followed the customer-first approach, it was a good time to showcase their strength.
The rise of affordable housing is showing no signs of stopping since its inception around the middle of the decade. And deservedly so. It addressed a strong paint point of homebuyers—high prices of properties—from low and middle-income groups. Even Amanora Park Town catered to this demand with the launch of its first entry-level project- Gold Towers.
Indian Real Estate went through a rough patch previously. To tackle declining sales and attract homebuyers, real estate developers introduced time-tested techniques like referral programs, as well as introduced novel offers like subventions schemes, also known as flexi-payment schemes.
Change is the only constant, and the only way to evolve is to adapt to what is new and what is in demand. At Amanora Park Town, we understand the potential that change brings. This is why, we keep an eye on innovation trends and incorporate the ones that we think would serve you best.