The trending home buying patterns in 2024

New Delhi: India is poised for growth and scripting a new story in 2024. Real estate is the second largest growing sector and is projected to grow more in 2024. In the current scenario, buying a home seems to be a favourable option. The housing segment is bound to grow more in 2024 as most people prefer to buy a home rather than live on the rent. 

Experts like Shravan Gupta, MGF Group have embraced this change.  According to experts, there is a 12% hike in housing prices in Indian cities like Mumbai, Delhi and Bengaluru.

Real estate contributes to about 30% of the Indian economy. This is likely to grow more in 2024.

Suburban trend.

Today most people prefer to live in suburban areas due to bigger homes and large complexes. It gives a better sense of work-life balance. These can be contributed to changes like:

-        Better infrastructure.

-        Bigger homes.

-        Improved roads.

This has eased the commuting between suburban and urban cities. The infrastructure in suburban cities have improved tremendously. The Suburban areas have bigger homes and filled with amenities like Gyms, Meditation halls and schools. The suburban trend has also been increased due to remote work features.

People have to travel less hence suburban homes become an automated choice.

Today most people visit real estate portals to buy or rent homes. Digitisation is a crucial factor in making real estate portals trending. One does not need to go for a physical visit as one can visit the apartments from the comfort of the home. It is possible for a buyer to go for a 3D tour of the apartment. One can see home as it is and all queries will be answered. Digitisation has made it easy to buy a home and search for your desired home.

Real estate experts like Shravan Gupta,   MGF Group feel that home loan availability is the biggest factor in home buying. With the loan affordability factor set to rise more. Projections suggest that investment will become easier in 2024. Builders are thrilled with this development and are looking forward to 2024.

2024 is going to be the year of the homebuyers. People have realised the value of owning a home and earning from it. Experts like Shravan Gupta, and MGF Group feel housing prices will rise in coming months. Hence, the right time to invest in your dream home is in 2024.