The Indian real estate sector is showing all the possible signs of improvement and development all thanks to the shift in views of business owners associated with the sector. Contemporary real estate firm owners now understand that they need to take measures that are at par with the global standards. That being said, SmartOwner’s website has summed up three of the global trends that are pushing the Indian real estate sector towards a better future.
Freelancers, entrepreneurs and established companies are leaning towards shared workspaces
Real estate firms and developers in both tier – 2 and metropolitan cities of India are offering the necessary options to entrepreneurs so that they can have an affordable office of their own. Shared office spaces are popular as they are much cheaper to afford. On top of that, the paperwork for shared office spaces is known for their flexibility. Shared office spaces are equipped with all the necessary amenities, infrastructure and security measures that can help a rising company reach the pinnacle of success in no time.
Crowdfunding is gaining a lot of popularity in the Indian real estate sector
Before diving deep into the topic, it is important for you to understand what is crowdfunding. It is a clever way that is being adopted by both innovators and business owners to raise funds for their products or services that they will be launching using the internet and its tools. It is an effective way to raise funds for a venture or project. Looking at its possibilities, the global real estate sector also started adopting the process to raise funds for their real estate projects.
Since taking help from financial institutions for real estate projects is a lengthy and dissatisfying process, Indian realtors and entrepreneurs are turning to crowdfunding to raise money for their future ventures. It should be kept in mind that the practice is still in its nascent stage. It means that it will take time for the same to carve a space for itself as a mainstream process in the Indian real estate sector.
Office retail complexes are where contemporary retailers want to be
Even a few years back, Indian retailers were always on the lookout for quality office spaces in business districts. It is one of the reasons why contemporary realtors and property developers have shifted their attention to ORCs or Office Retail Complexes. Realtors have understood the importance of ORCs over shopping malls and residential complexes. It is a nascent sector that is due to reach its saturation point.
A typical working person will be spending most of their day hours at the office. It is one of the many reasons why retailers like quick service restaurants, fitness centers, salons, telecom service providers and retail outlets for consumer electronics like mobile devices are turning towards ORCs at business districts.
Another trend that is on the fast track of reshaping the Indian real estate sector is the extensive popularity of smart workspaces. By smart workspace, we mean offices and commercial buildings that are equipped with the latest technologies that include access devices, data security systems, and amenities that make running a modern business easy, from day one. Ready to use workspaces are turning the Indian real estate sector truly global and at par with international business standards thereby paving the way for international players to come over here and start their operations.