Most Googled Real Estate Questions

Real estate has become the best investment option among other assets and investment options available in the market. It gives the highest and most secured returns option. It is the only investment option in India that grows only and also the safest investment option where you know that your money is safe. 

Despite being one of the most popular investment option, people have some dilemmas about real estate. And to clarify their doubts, they search thousands of real estate questions. Today, we will answer the ten most Googled real estate questions in 2024.

What is the current condition of the real estate market?

Whether it is the world or India, real estate is thriving and growing at pace. If you look at the data from the last ten years, you will find that real estate has yielded exceptional returns. Some places, such as Noida, Gurugram, and Bengaluru, have an appreciation of more than 30 percent per year. 

The current shortage of housing is estimated at around 10 million units in urban areas, with an additional 25 million affordable housing units needed by 2030 to accommodate population growth. India's real estate market is on a trajectory of substantial growth, projected to reach Rs. 65,000 crore (US$ 9.30 billion) by 2040 from Rs. 12,000 crore (US$ 1.72 billion) in 2019.

By 2030, India's real estate sector is expected to expand to a US$ 1 trillion market size, contributing 13% to GDP by 2025. Notably, the retail, hospitality, and commercial real estate sectors are burgeoning to meet India's infrastructure demands.

Forecasts predict India's real estate sector to soar to US$ 5.8 trillion by 2047, contributing 15.5% to GDP. Moreover, significant developments are underway, with retail spaces totaling nearly 41 million sq. ft set to be operational between 2024 and 2028 in the top 7 cities.

The leasing market is robust, with gross leasing surpassing 60 million sq. ft in 2023, led by BFSI firms at 22% and technology companies at 21%. The demand for data center real estate is expected to surge by 15-18 million sq. ft by 2025, while office absorption in the top 7 cities reached 41.97 million sq. ft in 2023. Furthermore, fresh real estate launches in these cities captured a 41% share in Q1 2023, signaling a surge in market activity.

Noida has given 50 to 60 percent returns in a year In some places and is also approaching becoming the IT capital of North India and, after some years, of the whole of India. These data reflect the immense growth of real estate in India:

Is Now A Good Time To Buy Or Sell A Home?

As of now, the real estate market is booming, and property prices are appreciating exceptionally fast. Inflation has also been an ingredient that makes it spicy. These data show that real estate is booming like nothing in India. FY23 witnessed a remarkable milestone as home sales soared to a record high of Rs. 3.47 lakh crore (US$ 42 billion), marking a substantial 48% year-on-year increase. Indian developers are poised to complete a staggering 558,000 homes in major urban centers by 2023, reflecting the robust growth in the real estate sector.

Notably, demand for residential properties surged across the top 8 Indian cities in 2023, buoyed by strong interest in mid-income, premium, and luxury segments. Additionally, commercial real estate transactions experienced a notable surge, doubling to 1.5 million sq. ft in Q1 2023, driven by significant investments in the sector.

These data show the immense growth of the residential real estate market and why it is the best time to invest in it now. Home prices are going up day by day, and if you don't invest when the market is going up, then you are the same as other Indians.

Who thinks the market will always have the same sentiment? Because Indians tend to sell when the market is going down and hold when the market is going up if you want to earn returns on your investment, always sell when the market is going up and book your profit. 

On paper, values look good, but in reality, they are just values that you cannot utilize. It does have value only when it is sold at the right time. Your investment should have a purpose and a destination. A journey is only called a struggle until you decide on a destination, and when you reach there, it becomes a success. Embrace your investments as your journey and your returns as your success. Only then are you called an investor. Otherwise, the ocean has bigger fish.

How Can I Increase the Value of My Property?

In India, property prices are primarily dependent on demand supply, and location, but here are some things you can:

       •  Renovate your Home
       •  Customize it as per the market’s demand
       •  Update your kitchen’s interior
       •  Customize your bathroom 
       •  Make your home energy-efficient 
       •  Use premium quality material 
       •  Use smooth interior
       •  Use soothing lighting
       •  Use aesthetic colours
       •  Use good flooring

What Are the Steps Involved in Buying a House?

There are various steps involved in buying a home. And if you are a novice, the chances are high that fraudsters will trap you. It is always beneficial to consult with a RERA-authorized consultancy such as Commercial Noida. We provide free consultancy and site visits for our clients. But still, if you want to proceed on your own, here are some checklists.

       •  Assess your financial readiness.
       •  Research available home loan options.
       •  Determine your budget and stick to it.
       •  Explore different neighborhoods and amenities.
       •  Engage with trusted real estate agents.
       •  Visit properties to gauge suitability.
       •  Conduct thorough inspections.
       •  Negotiate prices and terms.
       •  Finalise legal paperwork and documentation.
       •  Celebrate your new home ownership!

How Can I Stage My Home for a Quick Sale

Decluttering and depersonalizing places will help buyers see themselves living there, so start there when staging your house for a speedy sale. Thoroughly clean the exterior and, if necessary, add some landscaping and a new coat of paint to improve curb appeal. Furniture should be arranged to optimize flow and space. For a welcoming touch, strategically place touches like a dish of fruit or fresh flowers. Make sure that every light in the room is functioning correctly. Finally, for a polished appearance, think about doing minor upgrades and repairs. A well-presented house will draw in buyers and sell more quickly.

What Are the Emerging Trends in Home Design and Architecture?

       •  Sustainability: Energy-efficient materials and renewable energy.
       •  Open floor plans: Spacious, connected living areas.
       •  Smart technology: Integrated for security and convenience.
       •  Multifunctional spaces: Adaptable rooms for various uses.
       •  Biophilic design: Incorporating nature indoors.
       •  Minimalism: Clean aesthetics with simple lines.
       •  Flexible workspaces: Areas for remote work or study.

How Can I Negotiate the Best Price for a Property?

       •  Negotiating the best price for a property:
       •  Research comparable sales.
       •  Understand the market.
       •  Determine your budget and limits.
       •  Be prepared to walk away.
       •  Make a reasonable offer.
       •  Highlight any flaws or needed repairs.
       •  Use a skilled negotiator or real estate agent for guidance, such as Realty Dart

Is there any government initiative or scheme for homebuyers?

You can take advantage of Delhi's Pradhan Mantri Awas Yojana as a first-time homeowner. The Indian government started this project with the goal of giving everyone access to affordable housing by 2022, but it has been extended till 2024.

Are there any hidden costs involved in a home purchasing process?

The unstated expenses associated with purchasing a property differ based on the specific undertaking. While some developers conceal some expenses, others maintain complete transparency. Therefore, before buying the house, you need to inquire with the developer about all of the associated fees. A buyer should be informed of all the expenses related to purchasing a home, in addition to the cost of the actual property, such as:

•  Stamp duty
•  fees for registration
•  Upkeep costs
•  Parking fees
•  GST, etc.