Source: The Times of India —
As 2023 marks its entry, the Indian real estate industry is expected to steer positive development for its residential sector by recording substantial traction across markets. The residential market of top south India cities such as Chennai, Bengaluru, and Hyderabad are likely to mark 10% to 15% increase in residential demand resulting in significant increase in new project launches. The positive sentiment is likely to continue in many sub-urban markets owing to the socio-economic infrastructural developments in the region thereby turning these localities into emerging real estate hotspots.
Few other trends that are sure to rule the residential market in 2023 include.
Increasing Interest from NRI Homebuyers
South Indian cities like Chennai, Bangalore and Hyderabad have been witnessing increased interests from NRI home buyers to own a home today. Owning a home in their hometown gives NRIs a sense of safety and continuance to fall back on – in times of trouble. This also gives them an option to move back to the country upon retirement.
Millennial Buying on the rise
