I usually don't comment on Real Estate publicly as I get paid to advise on it; why do it for free then, But what we are facing is a once a 100 year event so here are few general predictions for the next 15-20 years of India real estate:
1 - As the world moves from Globalisation to Localisation we might see De-urbanisation of big cities and urbanisation of Town centers around these de-urbanised cities.
2 - Industrial land uptake will happen Electronics and Electrical in South Western India and Heavy Industries , Raw Material dependent industries to North East of India.
3- Demand for large scale , grade A commercial / IT ITeS spaces will go down , in turn localized smaller commercial developments will see uptake as Work from Home (WFH) or Work from NEAR Home (WFNH) concepts emerge after being successfully tested in Wuhan Virus crisis. Although we might continue to see Luxury Commercial office space become more Luxurious due to savings.
4- Travel and Lie-sure Real Estate might see growth post 2 years but modalities will change. Localized specialty leisure places will come up. (I am still very positive on Goa and Entire western coast)
5- While Luxury Residential real estate in dense cities might see a downfall and price/rate would fall but overall Resi demand will increase especially in Sub-urban , Peripheral Suburban residential areas will see renewed interest as travelling to workplace will go down due to weekly shifts , WFH and WFNH concepts as people will prefer living away from Commercial Business Districts. The CBD concept may disappear or never be the same again. Plotted developments , Independent houses will see a come back.
6- Floor-plans of Residential might change to include space for Dedicated Home Offices like in the old times.Floor plans of offices will also change to include more open spaces. Large societies might forced to include basic medical and quarantine facilities on site.
7 - Essential goods retail might reset to the old model of localized brick mortar as people witnessed their good servicing during crisis. Large stores and online retailers failed to provide services therefore either they disappear or re brand , change their product offering at local levels with their large supply chains in place working in background.
8- Land demand will see increased uptake across all sectors while already built spaces under older formats might see a reduced uptake. Hydroponics and advance agriculture centers near cities to be re-energized.
Would be interesting to hear your views on these , please feel free to comment and discuss.
Disclaimer: All predictions made in personal capacity. Here I do not represent any organisation or Institute that I maybe a member of. I do not accept any liability claims for relying on the predictions as they are made in good faith and free of cost. Please use your discretion before acting on any of the predictions , mein toh kuch bhi bolta huu.
