A purposeful, innovative & enlightening session hosted by Sunil Agrawal and Associates to bring out Indore Real Estate industry insights for buyers. The discussion and treasured insights were shared by a panel of 4 designated speakers who are well known for their market expectancy and solid moves.
The shift in Consumer Behaviour & Construction Cost
Tapan Agarwal, the CEO of Emerald Developers, shared his insights about investors. Investors have realized that the end consumer gives a property the actual value. With a shift in consumer behavior, the new generation prefers open spaces with amenities and prime locations. He also pointed out that the construction costs have seen a dip. The construction cost, which used to be 30-35% of the land cost, has been reduced to 20-25%. 50% and more returns can be expected from well-developed projects as well.
Developing Indore, Developing Real-Estate
With Indore coming up as Health, Education & Corporate Hub, it has become central India’s migration epicenter. This means that Real Estate has and will see a potential rise, as pointed out by Mr. Tapan Agrawal. The consumer is driven by Quality primarily.
Nobody thought the real estate would bounce back, as it has during the pandemic. Other investments have diluted, with public funding converging to real estate, as Mr. Anuj Lal (CEO, County Walk group) discussed. It’s time for strategic investments. To begin with the effects of the pandemic, WFH culture took a shot. Homes are no more just homes. Homes are offices, schools, gyms, play areas, and everything you can imagine. This has led to a rise in the sale of luxury property. Distance from the city is accepted when the new generation gets more space. With big dreams & an open mind, Indore has a primary growth market for real estate.
Core trends of Indore for 2022
A Classic trend of expansive and open spaces is observed. The pandemic closing the doors outside has opened the diversity indoors. People are looking forward to facilities within the township itself. Luxury and Amenities have become the primary focus, told by Mr. Deepak Agrawal with 10-15 years of experience in Real Estate. Many investors are entering real estate after observing the bright future in the city of Indore. The customer bandwidth has expanded.
Concentration zones and investment area prospects
Mr. Vijay Gandhi, the spine of Kalindi Constructions, enlightened the prospect zones in the city. Bypass is expected to see growth. He stated that the past three years had seen 100% growth and expected more. Nanodh & Rau are two other places where you can look forward to residential development.
The webinar was a grand success, with significant insights discussed by the creme of the Real-Estate industry of Indore. Facilitated by Mr. Vipul Agrawal – Director of Sunil Agrawal and Associates (SAA), this session was highly educational and held prolific importance in understanding the current real estate market scenarios. Not only was it great for investment planning for the audience, but it also was a perspicuity into the vast potential that the city of Indore carries.