Shravan Gupta has experienced the successes and challenges of the Indian real estate market up close and personal as his company has launched several new projects in Gurugram and other parts of India in recent years. When asked about the slowdown that has affected most sectors, he emphasized the unique position of real estate as a sector that can be used to get ahead in tough economic times. Here’s what He had to say about the latest trends in this progressive industry.
The Current State of the Economy
According to Shravan Gupta, Vice President of City Square, real estate is one of the most progressive sectors in the Indian economy. Although there has been a recent economic slowdown that is affecting several markets worldwide, real estate investors remain optimistic and have taken advantage of lower costs to acquire investment properties. Here are three reasons why now is a great time to invest in property.
1. Demand for housing is stronger than ever:
In some places around the world, such as China and Australia, demand for housing has waned over time as wages have increased significantly. However, India’s population continues to grow rapidly as urbanization increases year after year; these trends make it likely that demand will continue rising for years to come.
2. The cost of land has dropped significantly:
The cost of land per square foot has dropped by as much as 40% in some areas since its peak in 2014, making it an attractive time to purchase residential or commercial property.
3. It’s still easier to find properties at discounted rates:
Even though prices have dropped substantially from their peak, finding discounted rates on high-quality properties remains easier than ever before thanks to low inventory levels across many markets around India.
While there’s no doubt that real estate has been affected by slowdown and economic uncertainty, some sectors within real estate have been able to weather the storm with little trouble. In fact, according to the Vice President of City Square, one area that has seen significant growth is luxury real estate. We have been able to launch several luxury projects with great success.
We expect demand for these properties to rise as soon as our economy begins its recovery period, he said. Luxury homes are a good investment because they are typically purchased using cash, so buyers don’t worry about getting a mortgage or being approved for a loan. That means we don’t need to worry about making monthly payments or interest rates; we just need to focus on building high-quality homes that people want to live in long term. Our sales figures reflect how successful we have been at doing just that.
Innovative Marketing Strategies
City Square is one of India’s most innovative real estate companies and is also well-known for its innovative marketing strategies. For example, Shravan has utilized new technology to launch a try before you buy the app. This app allows potential home buyers to walk through a virtual 3D model home and customize it based on their personal preferences, so they can better visualize what they want their future home to look like.
In addition, He hopes to take advantage of augmented reality in order to further enhance his customers’ experiences. He plans to use AR tech to create fully immersive virtual tours that allow users to explore properties as if they were actually there. By taking advantage of these cutting-edge technologies, He believes he will be able to gain an edge over other developers in Gurugram and attract more clients.
Keeping Up With Modern Trends
When you start a new business, it’s easy to find yourself getting ahead of everyone else. In most cases, you’re investing in cutting-edge products and services that no one else is offering—but when it comes to real estate, a savvy developer has to keep up with modern trends. Shravan Gupta reveals some interesting information about how his company has done exactly that by launching several new projects.
He says that we have seen very positive results from our new project launches over the last year. In fact, we have been able to take advantage of market conditions that are not always favorable for developers. We are committed to offering high-quality living spaces at competitive prices and therefore work hard to ensure our developments remain relevant even during times of economic slowdown.
The Future of the Real Estate Industry in India
Mr. Shravan Gupta, Vice President of City Square, has shared his thoughts about how real estate has changed after the recent economic slowdown and how his company has taken advantage of that situation by launching several new projects in Gurugram with great success. In addition to discussing how things have changed, Mr. Gupta also discussed what he sees as likely future trends.
One of these is a change in consumer preferences towards smaller apartments because people are starting to prefer practicality over luxury. He also mentioned that it’s very important for developers like him to keep up with changing consumer demands and be aware of them at all times. We need to make sure we aren’t only building according to our own desires but also taking into account what our consumers want, said Mr. Gupta.