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Defying the odds one brick at a time

The recent past has seen quite a many turnarounds in the second largest employing sector known to India, the real estate. One of them which might have skipped your eyes but isn’t worth skipping at all is ‘how women are broadening the dimensions of it’.

Building dreams and shattering stereotypes

Though women have always been one of the key contributors in marketing the real estate, international players penetrating in and increasing demands from the sector has brought them to the core real estate business. With more accepting workspaces and inspiring anecdotes of the people who have made it to the top, women now are ready to take up leadership roles in this domain.

A large part of real estate in India is still male dominant family-run businesses, but the names like Manju Yagnik (Vice-chairperson, Nahar Group), Darshana Parmar Jain (Deputy M.D, Parmar group), Kruti Jain (Director, Kumar Urban Development Ltd) are actively changing this picture. In associated fields like architecture and interior design, women have brought their creative powers into action already and acquired top notch positions in the respective industry. Not only that, some have succeeded in creating and leveraging their personal brands to stand out of the clutter.

All this is serving beyond limits to aspire more women to unleash their potential in the sector. And as Kruti Jain rightly says ‘In this business, it is very important to maintain good interpersonal relationships. The ability to get work done and understand people is what makes a woman a better leader

Buying and living the dream

When we come to the other side, i.e. women as buyers of real estate, this picture has changed as well. Urban India is witnessing a good majority of female home buyers. Independent and working women are considering buying homes as a viable alternative to renting. Attractive interest rates, special schemes, minimal downpayment and discounted registration charges are all empowering them to get their dream home.

For new couples settling in the city, co-owning property has become another great option as this helps them in saving taxes and sharing the EMI burden. Online portals are becoming a go-to route for working women planning to buy the property from the comfort of their desk. To some women investors, realty has proven as a good way to diversify their investment portfolio while availing the schemes and offers.

Looking at the bigger picture, women have come a long way whether it is about building real estate or owning them. With their relentless determination and dedication towards their dream, there is so much more they are looking forward to. While many breakthroughs await, the genesis has been an eminent one, fueling the aspirations of many.

 

Millennial Trends Re-defining Real Estate

3Homeownership has always been a major milestone for Indians and the millennials are no different though they have their own set of terms and conditions. Unlike the previous generation home ownership isn’t a goal of life for the Generation Y, but just a part of their high-tech, connected lifestyle as they value experiences over things.

Thus, this dynamic generation doesn’t want to fit into a limited space called home and rather prefer the idea of ‘home’ to accommodate and adapt into their lifestyle. From micro- homes to co-living to theme-based homes, here’s a look at some of the trends that are redefining the residential and working space in the Indian real estate market.

Ease of living
With the blurring boundaries between the workplace and home, desktop and PlayStation, 2millennials look at everything from a convenience point of view. When searching for a new home, millennials prefer an urban location with good infrastructure, which is also close to their workplace as it allows them the luxury to engage in social activities at large.

Ease of technology is also a crucial factor in this case as these digital natives prefer everything smart including their homes.

Value for money

Utility is as much a priority for the Generation Y as cost-effectiveness. Hence, the idea of micro-living or co-living spaces. While micro-homes make perfect sense in space- constrained Indian metros, co-living facilities offer millennials well-equipped accommodation without any botheration of maintenance.

For a young professional who spends 3/4th of their day outdoors, investing their hard earned money into something that they’ll hardly use is a big no.

Independent and well-researched

Millennials are a DIY generation who value transparency more than anything else. These new-age, high-tech buyers are doing their online research and entering the real estate market well-prepared. While searching for homes, 1they make an informed decision choosing quality over false promises. This is the reason why most millennials prefer ready-to-move homes from renowned builders than under- construction property.

Instagram generation

Self-expression and comfort are of utmost priority for millennials. This generation seeks living spaces that reflect their lifestyle and can add to their social profile, which is why they choose small, theme-based pads to big, luxurious bungalows.

Also, a robust online presence and reputation for real estate professionals is a must to appeal to this market.

The new age buyers are carefree but not careless. They are aware of the issues like climate change and want to live with a lower carbon footprint. So, they not only want energy-efficient homes but will also not shy away from paying extra for that.

The millennial population is not just increasing in size but also in its economic footprint and will be a dominant force in the real estate market in the next five years. This is both a challenge and an exciting opportunity for the developers to reach new prospects.

How do you think the aspirations and dreams of millennials will shape the future of real estate?