Today, 25-34 years is India 's prime first home purchase generation, compared to 40 years ago, thanks to increased income and ease of financing. The community of the same age group is known as 'Generation Y-Know.' They are tech-savvy, culturally diverse and high-income urban dwellers, working in digital technology occupations and open to new concepts and ideas.
Many developers / builders are still trying their luck to come up with creative technology.Home ownership is one of the main priorities for them as they understand the financial prudence of buying over renting. In their opinion, freedom is the most important commodity of contemporary urban life. One of the key factors behind the rise of compact housing, such as studios and 1BHK apartments, is that it satisfies the 'Generation Y-Know' dual goal of saving and spending. They save on rent; the extra spending yields an annualised return on investment of 11 per cent to 13.5 per cent. The selling value, after the principal redemption, gives the seller an investment surplus to be used as a down payment for his or her future acquisition of land.
Digital tours have an all-new concept of the real estate market. In a scenario where the pandemic has prevented people from going to sites , making site visits, inspecting houses, what has been of tremendous value are video conferences, web tours, and e-launches. You can't go to the homes you'd like to purchase. Technology plays a very important role here. All real estate firms are seeking to get hold of all the up-to - date technology to draw their clients. Over the past 2-3 months, there has been a spike in video clips in the real estate sector. From shortlisting to finalising calls, technology has come a long way. Although we know that a physical visit could be just as necessary, the present situation does not encourage us to do so, and all of this is for our benefit. Webinars, interactive tours, AI, online payments have changed the view of real estate properties.
