Developers encash rising demand for plots, led by soaring IT salaries
Real Estate

Developers encash rising demand for plots, led by soaring IT salaries

The demand for plots across premier cities in India is soaring.  The second home market in India is poised to witness high traction where we see that buyers are inclined towards investing in a gated community that has amenities like a swimming pool, gymnasium, health centre. The first wave of pandemic saw buyers considering Tier 2 markets for purchase as big city employees went home during the WFH period, but during the second wave, people realised that staying in metro cities or bigger cities was a better decision where hospital facilities existed. Cities like Bangalore and Pune which have a majority migrant population started the buying cycle again in the city of work.

The demand is largely driven by the wider acceptance of work from anywhere culture. Moreover, technological advancements have enabled sales of properties worldwide and enhanced the income generation ability of such properties. The biggest drivers of these plot sales are millennials in the age group of 22-35 years. In cities like In Pune, where there is a large volume of techies, with 70% North Indian migrants, plot corridors are spread across many markets. The Hinjewadi corridor scores on proximity to the Mumbai-Pune Expressway and sees investments from the IT workforce. Similarly, in In Hyderabad, another key IT hub in South India, the demand for plots has been rising. The drivers are the same, but the risks are higher. RERA is nascent in the city, a lot of sales of non-registered plotted projects are taking place across micro markets.

In such situations, one needs to be very careful whether it is revenue land or converted land. As Indian real estate is moving towards digitisation, it is easier to check on the legality of the plots. Many unbranded developers have been cutting plots across cities and the IT sector employees could fall prey to them. Ultimately whether it is for end-use or investment, plot purchases need due diligence.

Click here to read more

The demand for plots across premier cities in India is soaring.  The second home market in India is poised to witness high traction where we see that buyers are inclined towards investing in a gated community that has amenities like a swimming pool, gymnasium, health centre. The first wave of pandemic saw buyers considering Tier 2 markets for purchase as big city employees went home during the WFH period, but during the second wave, people realised that staying in metro cities or bigger cities was a better decision where hospital facilities existed. Cities like Bangalore and Pune which have a majority migrant population started the buying cycle again in the city of work.The demand is largely driven by the wider acceptance of work from anywhere culture. Moreover, technological advancements have enabled sales of properties worldwide and enhanced the income generation ability of such properties. The biggest drivers of these plot sales are millennials in the age group of 22-35 years. In cities like In Pune, where there is a large volume of techies, with 70% North Indian migrants, plot corridors are spread across many markets. The Hinjewadi corridor scores on proximity to the Mumbai-Pune Expressway and sees investments from the IT workforce. Similarly, in In Hyderabad, another key IT hub in South India, the demand for plots has been rising. The drivers are the same, but the risks are higher. RERA is nascent in the city, a lot of sales of non-registered plotted projects are taking place across micro markets.In such situations, one needs to be very careful whether it is revenue land or converted land. As Indian real estate is moving towards digitisation, it is easier to check on the legality of the plots. Many unbranded developers have been cutting plots across cities and the IT sector employees could fall prey to them. Ultimately whether it is for end-use or investment, plot purchases need due diligence.Click here to read more

Next Story
Infrastructure Urban

Infrastructure Opportunity Outlook by IMPACCT.Info

India’s infrastructure pipeline is witnessing dynamic activity across stages — from immediate bidding to future planning. IMPACCT segments these into three categories: Immediate, 3–6 Month, and Future Opportunities, enabling businesses to identify, prepare, and participate in high-value tenders and projects across sectors...To read the full article Click Here..

Next Story
Real Estate

Serene Communities, Prathima Group Invest Rs 4 billion in Hyderabad

Serene Communities by Columbia Pacific, India’s largest senior living operator, has partnered with Prathima Group to develop two senior living projects in Hyderabad, marking its entry into Telangana. The collaboration represents an investment of Rs 4 billion, combining Serene’s international expertise with Prathima’s local development experience. The first project, Serene BILVANI One, launched in Shankarpally, is Hyderabad’s first premium senior living community. Designed for independent and active ageing, it features senior-friendly architecture, barrier-free design, and wellness..

Next Story
Infrastructure Urban

India remains our most important market

Foundamental, the world’s leading venture capital platform focused on the project economy, has launched its third fund to strengthen its presence in India, APAC, and other global markets. Led by Berlin-based Managing Partners Shubhankar Bhattacharya and Patric Hellermann, Fund III aims for a final close by the end of 2025. In an exclusive interaction with CW, Bhattacharya shares insights on the fund’s mandate, India’s role in their strategy, and the opportunities they see in the construction-tech and project-based sectors. Can you briefly explain Fund III’s mandate and how In..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?