The Real Estate sector in India has been undergoing a metamorphosis.
The four cornerstones of the sector – Regulation, Finance, Customers
and Technology have been experiencing changes in their own unique
The operating environment has been fairly dynamic, especially
over the last two years, with landmark reforms such as the Real Estate
Regulatory Act (RERA) and the Goods and Services Tax (GST) getting
implemented in quick succession.
The disruptions have not been limited to the operating environment, but
have percolated to the financing environment of the country as well. The
trickle down impact of the Demonetization drive, easing of FDI norms,
REIT guidelines, have resulted in global investors being bullish about
investing in India.
While the changes in regulation and finance are more due to the policy
thrust from the government, the changes in customer expectations are
reflective of the “evolving equations” in real estate. Consumers today
are not only aware of their needs, they also have a clear expectation
of their needs being met, all of which is getting refelected in the way our office, retail, residential and industrial spaces are being designed.
The fourth cornerstone – Technology has come into sharper focus more
recently. Moving away from times, where technology was only relevant
for specific sectors, today it is being used as an important tool to ensure
seamless integration with the other cornerstones of real estate (Regulation,
Finance and Customers).