In 2022, the real estate market in India's major cities, especially for HRA and commercial properties in Pune, Hyderabad, and Bangalore, witnessed a significant surge in demand. This growth can be attributed to the flexibility introduced by the pandemic, which changed work culture perceptions. During the peak of the pandemic, residential property prices were affected, leading to relative stagnation for almost a year. However, after 2021, the market began to recover, with the second wave of the pandemic bringing further optimism due to the country's vaccination drive and lower infection rates.

The festive season they have also contributed to the recent rise in the real estate sector, which is gaining momentum due to the increasing demand for hybrid workspaces. Knight Frank's latest report predicts a 5% increase in capital values in 2022, with consumers looking for bigger houses with better amenities and workspaces at a more competitive price. The real estate market is becoming a happening space as people continue to research and explore the new normal conveniences.

2022 is a Transformative year for Real Estate

The real estate of India is proceeding through a transformative year. With an increase of up to 10.3% in 2022, the real estate company’s tech budget outlook is also auspicious. For example, technology has helped the industry to grow by 25% over the last five years. It also means that it is imperative that real estate companies in the coming years invest in technology, as it is a driving force that is growing the industry.

Residential Conversion in 2022

Prior to the pandemic, the Indian real estate market and real estate agencies in Pune, Bangalore, Hyderabad, Chennai, Mumbai, and Kolkata had already experienced significant changes.

The implementation of various reforms, such as Demonetization, Goods & Service Tax (GST), and Real Estate Regulatory Authority (RERA), had a significant impact on the sector's structure. These changes were already in place before the pandemic hit the country. As a result-

Construction cost has increased by 34% in the last decade.
Land prices have more than doubled in the past few years.
Preleased properties for sale in Pune, Hyderabad & Bangalore have already escalated.
Residential property sales have increased by 17% compared to 2021.

The more people are interested in buying properties in these cities, the better it improves employment opportunities. This constant sale of residential property signals a sustained & positive growth phase.

Significantly some of the driving factors for real estate in 2022 are:

Options of Affordable & Mid-segment Launches Have Increased

Developers & famous builders in Pune, Bangalore, Hyderabad, and Delhi NCR oriented themselves with Government schemes & regulations to provide accessibility for all.

The latest real estate trend does not just change a property value; it helps people who need help to afford a house. It allows living with a balance between luxury & affordability.

Trusted Builders Obtaining the Market

Top builders in Pune, Hyderabad, Kolkata, and Bangalore have shifted their focus towards meeting the needs of their customers and being more customer-centric. Customers are seeking trustworthy builders and developers who are transparent in their business dealings, and builders are leveraging technology to improve their efficiency and meet these requirements.

Don’t Forget the Influence of Lifestyle

Real estate has not only rebounded in 2022 but is also undergoing a significant boom post covid recovery. Ever since the pandemic, more & more people have realized the importance of livable & productive spaces where they can spend their time more effectively & more productively. Another exciting trend is buyers have been more concerned about eco-mindful lifestyles. They prefer having their nest outside of the hustle-bustle of the city & closer to nature.

Time to Rethink on Investment Purpose

Investing in real estate, whether residential or commercial properties, in Pune, Bangalore, Hyderabad, and Chennai has proven to be a profitable and fruitful investment, especially since more people are becoming entrepreneurs and looking for their business space. Many individuals view investing in a second home or commercial space as a way to secure their future and add value to their quality of life.

As the conditions continue to improve and become more favorable for buyers and top builders in Pune, Bangalore, Chennai, and Hyderabad, the real estate market in India looks brighter in the coming days. One of the most trusted names among top real estate developers in Pune is Raviraj Realty, a prestigious developer of custom residential, commercial, and infrastructure properties. They are committed to building sustainable, environmentally friendly spaces that promote healthy living. Their designs prioritize people and their needs, and they aim to provide comfortable, low-maintenance living spaces.