 Fractional property ownership (FPO) is a concept gaining popularity in the Indian real estate market, offering a unique way for individuals to invest in high-value properties. This blog aims to examine the core of fractional ownership, discuss its advantages and disadvantages, highlight key players in the field, explore turnover and return on investments, and draw comparisons with other investment avenues like Real Estate Investment Trusts (REITs) and Alternative Investment Funds (AIFs).
Let’s understand Fractional Property Ownership (FPO) Fractional property ownership involves multiple investors collectively owning a portion of a high-value real estate. In India, this model is gaining traction as it allows investors to enter the real estate market with a smaller capital outlay while enjoying the benefits of property ownership. Advantages of Fractional Property Ownership
Disadvantages of Fractional Property Ownership
Turnover and Return on Investments: Fractional property ownership platforms typically provide regular updates on property performance. Investors can expect returns through rental income and potential appreciation in property value. However, it's essential to consider the long-term nature of real estate investments. Comparison with REITs and AIFs: FPO v/s REITs
FPO v/s AIFs
Conclusion Fractional property ownership in India provides a new way for people with less money to invest in real estate. It has benefits like less financial stress and spreading out investments. But, it's crucial to be careful because there are also potential downsides. Before choosing fractional ownership, investors should think about their risk tolerance and goals. It's good to compare it with other options like REITs and AIFs. As real estate changes, fractional ownership is expected to become more important in how Indians invest in property. About PropertyAngel PropertyAngel is a leading O2O (online-to-offline) second landlord platform. We are a Bangalore-based property management company offering professional property management for individual apartments, houses, and villas. If you need assistance in managing your property effectively in Bangalore, please contact us at (91-7406484455).
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In the ever-evolving landscape of construction, the need for sustainability has become the headline. The choices we make in building materials and design not only shape the physical structures around us but also play a significant role in preserving our planet. In this edition, we will explore all about sustainable construction.
The foundation of sustainable construction lies in the materials we use. Making use of materials like recycled steel, recycled wood, and energy-efficient insulation transforms homes into eco-friendly life spaces. These cool materials not only enhance structural integrity but also contribute to a greener future. As we embrace these innovations, future homes are set to combine both environmental consciousness and an aesthetic appeal. Imagine a building that breathes in harmony with nature, regulating its temperature through inspired design. Architects and engineers are increasingly turning to bioclimatic principles, creating spaces that stay cool without the need to depend on traditional air conditioning systems. From the usage of green roofs that absorb sunlight to well-planned ventilation channels inspired by nature, this idea explores how these nature-inspired solutions are not only making buildings more comfortable but also significantly building up energy efficiency. A global challenge that demands innovative solutions is the scarcity of water. Progressive projects are taking a significant step in the right direction by integrating water recycling technology. Treating and reusing sewage water not only contributes to water conservation but also establishes an eco-friendly approach to building design. Recycling used water helps sustainable construction meet the pressing need for water resource management. Moving on to the ROI of investing on a sustainable project. Green building practices offer not only ecological benefits but also a compelling return on investment . Green buildings, designed with energy efficiency, recycled materials, and sustainable systems in mind, demonstrate a lower environmental impact over their lifecycle. Beyond environmental safety, these buildings often cut down the cost through reduced energy consumption, water conservation, improved indoor air quality, etc. The long-term financial gains, along with the positive environmental impact, make green building investments a wise choice. To propel construction into a more sustainable future, new visions and ideas are essential. We believe in the power of shared knowledge and collective action. As you explore the possibilities of sustainable construction through this newsletter, we encourage you to take a moment and listen to our podcast that decodes eco-friendly constructional practices in real estate in India from one of the experts himself, Suhail Rahman, MD & CEO of CoEvolve Estates, leading developer in Bangalore specializing in sustainable designs. Guided by his innovative vision, the projects undertaken by CoEvolve have won several awards and titles including Asia Pacific's Greenest Residential Project by the World Green Building Council. In the context of the environmental challenges of present-day construction, the call to action is clearly to embrace sustainability. Let every structure be a testament to innovation and a commitment to harmonious coexistence with our planet. Together we can build a sustainable tomorrow. About PropertyAngel PropertyAngel is a leading O2O (online-to-offline) second landlord platform. We are a Bangalore-based property management company offering professional property management for individual apartments, houses, and villas. If you need assistance in managing your property effectively in Bangalore, please contact us at (91-7406484455).  India is experiencing a significant demographic shift with its aging population on the rise. As the number of elderly individuals continues to grow, the need for assisted senior living becomes increasingly important, tackling issues such as feeling lonely, not enough health care assistance and less family time. In response to these changes, places that help seniors feel safe, supported, and independent are becoming more common. Recognizing the significance of offering quality care to senior citizens, India is gearing up to meet the demands of its aging population. In reaction to this critical need, businesses and organizations are stepping up to offer a range of services, including assisted living facilities, home care services, and technology-based solutions. These endeavors aim to provide the elderly with the necessary care and support, fostering a sense of independence and well-being. Assisted living facilities in India are at the forefront of this transformation, providing a range of services to improve the physical and mental well-being of elderly individuals.. The specialized services include nursing and medical care, social activities, nutritional support, emergency hospitalization, dining facilities, 24-hour onsite staff, and access to emergency assistance. Furthermore, these facilities prioritize safety and security, ensuring that seniors can remain active, healthy, and connected with their loved ones. Strict security protocols, including CCTV surveillance and visitor screening, contribute to a safe and secure environment. Additionally, emergency response systems are in place to address any medical emergencies promptly. Investing in senior living homes presents a unique opportunity for investors seeking long-term and stable returns. As the needs of the aging population evolve, the demand for enhanced facilities, particularly senior living homes, is on the rise. Beyond financial gains, investing in this sector is a profound act of social responsibility, contributing to the well-being of the elderly. Aligned with a global trend, this investment allows you to be part of a broader movement dedicated to providing high-quality living options for seniors. Joining this endeavor not only ensures sound financial returns but also contributes to creating a positive impact on the lives of the elderly, making it a rewarding and socially conscious investment choice. While the concept of assisted living has been prevalent globally for the past two decades, it is relatively new for India. This paradigm shift in senior care aligns with a broader global trend, emphasizing the importance of providing quality services for elderly citizens. As nations adapt to longer lifespans, businesses and organizations are recognizing the inherent value in prioritizing the well-being of seniors—a trend that holds particular significance for India as its elderly population is poised for rapid growth in the coming years. To know and learn more about this topic, do have a watch the latest podcast episode of PropertyAngel Podcast, in conversation with Mrs. Sumathy Anantharam, Founder of Manasum Senior Living and Mr. Kushal Ramesh, Partner of Manasum Senior Living. Here is the link to the episode https://youtu.be/zccOlhd6aJM?si=xHXto2eEmtRCuwLV About PropertyAngel PropertyAngel is a leading O2O (online-to-offline) second landlord platform. We are a Bangalore-based property management company offering professional property management for individual apartments, houses, and villas. If you need assistance in managing your property effectively in Bangalore, please contact us at (91-7406484455).  Welcome to the world of Proptech, where technology meets real estate, reshaping how we buy, sell, and manage properties. In this blog, we'll break down what Proptech is, how it's changing the property industry in India, key innovations and challenges, and what the future holds for professionals and consumers. You can watch our detailed podcast on Proptech here.
What is Proptech? Let's start with the basics: What is 'PropTech'? It's simply the blend of 'property' and 'technology.' PropTech employs technology to make real estate processes more efficient and accessible for both professionals and consumers. Now, let's explore how PropTech is transforming the real estate industry in India. PropTech is revolutionizing the real estate industry by redefining many aspects. 1. Digital Property Search PropTech platforms make it a breeze to find properties online. With websites and apps, property seekers can filter listings based on location, budget, and preferences. Virtual property tours let you explore homes without stepping out. 2. Data-Driven Decisions Proptech provides valuable data and insights for making informed property decisions. Market trends, pricing, and historical data are at your fingertips, making investment choices more informed. 3. Property Management Simplified Property owners and managers benefit from software that streamlines tasks like rent collection and maintenance requests. 4. Smart Homes Properties are getting smarter with technologies like smart thermostats, security systems, and energy-efficient appliances, increasing their appeal and value. 5. Transparent Transactions: Blockchain technology enhances transparency and security in property transactions. It ensures data integrity and trust. 6. Sustainability and Eco-Friendly Tech: PropTech is leading the charge in making properties more eco-friendly and sustainable. Smart technologies such as energy-efficient lighting and water-saving devices are being incorporated, contributing to a greener living experience. 7. Cost Savings: From construction to maintenance, PropTech optimizes costs. Innovative building materials, energy-efficient systems, and streamlined maintenance processes lead to significant savings. Innovations and Challenges Innovations:
Challenges:
The Future Awaits What lies ahead for professionals and consumers in India's real estate sector? What is changing in the realm of 'Property technology'? What have been the major innovations, challenges and what are the biggest problems the sector is working on today? Is the sector changing fast enough? Tune in to mind-boggling facts and theories, and delve deep into The Protech revolution in India with John Kuruvilla, who was the chief Mentor of Brigade REAP, India's first and largest PropTech accelerator, for over 6 years, in conversation with the host, Sapna Chandiramani, CEO & Co-founder, PropertyAngel. In his career span of over 3 decades across the Advertising, Real Estate, Hospitality and Aviation industries, John has been a serial entrepreneur, has taken Air Deccan public as its Chief Revenue officer, served as the Managing Director at GenNext ventures by Reliance Industries, turned around many loss making companies, is an avid biker, has lived in the Amazon rainforest and is fondly known as the 'Barter King. You don't want to miss this insightful conversation! Also subscribe to our podcast platforms mentioned below Spotify - https://open.spotify.com/show/67D5E52WPF07VLSxpU3zRc Amazon - https://tinyurl.com/PApodcastamazon Castbox - https://tinyurl.com/PAcastbox RadioPublic - https://radiopublic.com/propertyangel-podcast-6vpLje Pocketcasts - https://pca.st/7w6g2gmk Jio Saavn - https://www.jiosaavn.com/shows/propertyangel-podcast/1/GJyfL-3-xCY_ Google - https://tinyurl.com/propertyangelpodcast Coming soon on Apple Podcasts About PropertyAngel PropertyAngel is a leading O2O (online-to-offline) second landlord platform. We are a Bangalore-based property management company offering professional property management for individual apartments, houses, and villas. If you need assistance in managing your property effectively in Bangalore, please contact us at (91-7406484455).  Owning a home is a dream come true for many Indians. Therefore, homeowners aim to create a space that reflects their personality and meets their evolving needs. Renovating and improving your home not only enhances its aesthetics but also adds value to your property. Whether you're planning to sell your home in the future or simply want to enjoy a more comfortable living space, here are some valuable renovation tips for homeowners.
Plan Your Renovation One of the most important renovation tips for homeowners is having a well-thought-out plan. Identify the areas of your home that require attention and prioritise them based on your budget and needs. Consider factors like functionality, aesthetics, and long-term value while making your plan. Budget Wisely If you don't plan and budget wisely, renovation expenses can escalate quickly. Therefore, figure out how much you will spend on the project and allocate funds accordingly. To avoid surprises later on, research the costs of materials, labour, and any additional expenses. It's also a good idea to keep a contingency fund for unexpected expenses. Renovation tips for homeowners: Focus on the Kitchen The kitchen is often considered the heart of an Indian home, and investing in its renovation can immensely boost the value of your property. Homeowners should opt for modern, functional designs that maximise storage space and incorporate energy-efficient appliances. Also, it's best to use high-quality materials like granite or quartz for countertops and durable cabinets with ample storage. Upgrade Bathrooms Upgrading your bathrooms is another renovation project that can add value to your property. Install new fixtures like modern faucets, showerheads, and energy-efficient toilets. Consider adding a glass shower enclosure for a touch of elegance. Pay attention to lighting, ventilation, and storage solutions to create a more functional and relaxing space. Enhance Curb Appeal The exterior of your home is the first thing potential buyers or guests see. Therefore, one of the crucial renovation tips for homeowners is to invest in landscaping, repainting the facade, and replacing outdated or worn-out windows and doors. A well-maintained and visually appealing exterior can make a significant difference in the value and overall impression of your property. Renovation tips for homeowners: Optimise Storage Indians tend to have a lot of belongings, and insufficient storage space can be a major drawback for potential buyers. Therefore, focus on creating smart storage solutions throughout your home. Utilise vertical space by adding shelves or cabinets, and consider built-in storage options to maximise space utilisation. Well-organised closets, kitchen cabinets, and storage rooms are highly desirable features for Indian homeowners. Energy Efficiency Matters Energy-efficient homes are in great demand with rising energy costs and increasing environmental consciousness. Therefore, incorporating energy-saving features like LED lighting, solar panels, energy-efficient windows, and insulation is one of the trending renovation tips for homeowners. These upgrades not only reduce utility bills but also increase the value and appeal of your home. Flooring and Finishes Homeowners must replace worn-out carpets with durable and low-maintenance options like hardwood or tiles. They can also choose neutral colours for walls and finishes to appeal to a wider range of potential buyers. To ensure longevity and easy maintenance, homeowners must use high-quality materials. Hire Professionals While DIY projects can be fun and cost-effective, certain home improvement projects require professional expertise. Hiring experienced contractors, architects, or interior designers will make sure your home renovation is successful. Besides, professionals can provide valuable insights, guide you through the whole process, and help you avoid costly mistakes. Stay Updated with Trends Keeping up with the latest home design and renovation trends can help you make informed decisions and add value to your property. Browse home improvement magazines, websites, and social media platforms for inspiration. However, remember to choose timeless design elements that will retain their appeal for years to come. Final Words Overall, renovating and improving your home is an excellent way to add value and enhance your living experience as a homeowner. By carefully planning, budgeting, and focusing on key areas, you can create a space that not only reflects your style but also appeals to potential buyers. With the right approach and attention to detail, your home can become a valuable asset that brings joy and financial returns. About PropertyAngel PropertyAngel is a leading O2O (online-to-offline) second landlord platform. We are a Bangalore-based property management company offering professional property management for individual apartments, houses, and villas. If you need assistance in managing your property effectively in Bangalore, please contact us at (91-7406484455).  India is rich in diversity and cultural heritage. The country's economy is also growing rapidly. As the economy grows, so does the real estate market, especially luxury real estate in India. The year 2022 saw a significant increase in the sales of luxury homes, which shows how popular these exclusive properties have become. Because many households now have more spending power, wealthy buyers are looking for luxury properties that offer a high level of comfort and prestige. This has created a higher demand for extravagant homes and has led to the development of high-end properties in some of the most desirable locations in India. Unlike other markets, luxury real estate in India caters to a specific group of buyers who are looking for exclusivity and high-end amenities. These buyers are willing to pay a premium for these features but also want to ensure they are getting good value for their money. Who are Elite Homebuyers? Typically, people buy homes to fulfill their basic need for a place to live. However, elite homebuyers have different preferences. These HNIs prioritise luxury, exclusivity, and privacy in their homes. Therefore, they look for houses with state-of-the-art amenities and innovative designs, preferably located in prime areas. Elite homebuyers have a sophisticated taste for high-end features and aesthetics. They desire properties that suit their lifestyle and provide a peaceful retreat from the busy city life. The lifestyle of elite homebuyers heavily influences their tastes. Therefore, they look for properties that provide private swimming pools, home theatres, gyms, and other high-end features. Also, elite homebuyers favour modern and contemporary designs that let in plenty of natural light and offer breathtaking views. Trends in Luxury Real Estate in India Luxury real estate in India is always evolving to meet the demands of wealthy homebuyers. Two of the latest trends in this sector are smart homes and eco-friendly designs. With smart homes, homeowners can use voice commands or remote access to control various aspects of their homes. They can control the lighting, temperature, and security systems from anywhere in the world. Another trend is the growing preference for eco-friendly designs. People are increasingly concerned about the environment and want homes that have minimal impact on nature. Developers are incorporating features like solar panels, rainwater harvesting systems, and energy-efficient appliances into their designs. These green features help reduce energy consumption and promote sustainability. Apart from these trends, luxury vacation homes and second homes are also gaining popularity. Wealthy individuals are investing in properties located in scenic locations like hills, beaches, backwaters, etc. These vacation homes offer a tranquil retreat and are great venues for family vacations. Popular Luxury Real Estate Destinations in India Mumbai, Delhi, Bangalore, and Pune are among the most sought-after cities in India for luxury property investments. These cities offer a cosmopolitan lifestyle with a bustling social scene, vibrant culture, amazing employment opportunities, and excellent infrastructure. They have top-tier educational institutions, world-class hospitals, big MNCs, convenient transportation options, and prominent shopping centers. For example, high-end properties in Mumbai offer breathtaking Arabian Sea views. Delhi is home to some of the most luxurious residences in upscale neighborhoods. Bangalore is known for its lush greenery and offers luxury homes in peaceful surroundings. Pune is an emerging city that offers an impressive range of luxury real estate options. Luxury Real Estate in India: Investment Opportunities Investing in luxury real estate in India can be a profitable opportunity. However, investors should carefully look into certain factors before making their investment decisions. One of the most crucial factors is the property's location. Prime areas, which elite homebuyers prefer, offer higher potential for returns. These locations usually have good connectivity, proximity to central business districts, and access to upscale shopping and dining experiences. In Mumbai, areas like Bandra West, Juhu, and Worli are popular choices for luxury real estate investments. Chanakyapuri, Lutyens' Delhi, and Vasant Vihar are highly sought-after in Delhi. Indiranagar, Koramangala, and Whitefield are also emerging as preferred luxury home destinations in Bangalore. In Pune, Hadapsar, Baner, Aundh, Wakad, and Wagholi are particularly sought-after by investors looking for a luxurious lifestyle. Conclusion Investors should also look into the developer's reputation and overall market trends. Researching the developer's track record, past projects, and customer reviews helps assess their quality and credibility. Market trends, such as the demand-supply gap, pricing, and rental yields, provide insights into potential returns on investment. Builders and developers targeting high-end homebuyers in India must cater to their distinctive preferences, emphasizing smart technology, home automation, and eco-friendly designs. Staying competitive requires the incorporation of these trends into luxury properties. India, with its robust infrastructure, flourishing economy, and vibrant culture, presents appealing investment opportunities in the real estate market. For those interested in luxury real estate in Bangalore, PropertyAngel offers assistance. The team of experts at PropertyAngel is adept at identifying suitable investment opportunities and provides guidance throughout the investment process. About PropertyAngel PropertyAngel is a leading O2O (online-to-offline) second landlord platform. We are a Bangalore-based property management company offering professional property management for individual apartments, houses, and villas. If you need assistance in managing your property effectively in Bangalore, please contact us at (91-7406484455). In a significant move towards digitization of property-related processes, the Delhi Revenue Department has initiated a pilot project aimed at simplifying property registration and rental agreement procedures. Launched at the Defence Colony and Najafgarh sub-registrar offices, this innovative system allows applicants to complete various formalities online, reducing the time and effort required for property transactions.  Modernizing Property Registration
The primary objective of this initiative is to speed up the registration of property documents, wills, leases, rent agreements, and related paperwork. Under the new online system, individuals seeking to register their documents can perform several key tasks remotely: Data Entry: Applicants can input their personal details and information related to the documents they wish to register. Upload documents: Supporting records and relevant documents can be uploaded digitally, ensuring a comprehensive and paperless process. Stamp Duty Payment: The system enables online payment of stamp duty, streamlining the financial aspect of property registration. Appointment Booking: Applicants can schedule appointments at sub-registrar offices for the finalization of the registration process. National Generic Document Registration System (NGDRS) Once the pilot project proves successful and stable, the National Generic Document Registration System (NGDRS) will be implemented across all 20 sub-registrar offices in Delhi. NGDRS promises to revolutionize property registration by providing a comprehensive and efficient platform for individuals and businesses. This system will provide: Enhanced User Experience To facilitate a smooth transition, the revenue department has established help desks at the two pilot sub-registrar offices. Furthermore, instructional videos have been uploaded to the NGDRS portal, offering step-by-step guidance on using the system. The department is also actively seeking feedback from users to further refine the system and address any potential issues. Reducing Transaction Time The existing property registration process, managed through the Delhi Online Registration Information System, often involves lengthy waiting periods of 20-30 days for online paper transfers. With the introduction of NGDRS, these timelines are expected to significantly decrease, providing a more efficient and convenient experience for property transactions. Enhanced Data Integration To enhance the system's effectiveness, the revenue department plans to integrate data concerning prohibited properties, including illegal and evacuee properties, which cannot be legally sold, purchased, or transferred. This integration will allow sub-registrars to verify property details online, further reducing the likelihood of fraudulent transactions. Future Integrations The revenue department has ambitious plans for the future, including the integration of data from investigating agencies such as the Central Bureau of Investigation, Enforcement Directorate, and Income Tax. This broader data integration aims to enhance transparency and accountability in property transactions. Additionally, the department plans to launch an e-registration system that will bring the Municipal Corporation of Delhi (MCD) and Delhi Development Authority (DDA) onto the same IT-enabled platform. This move will simplify property document verification for sub-registrars, ultimately benefiting property buyers and sellers. In conclusion, the introduction of an online property registration and rent agreement system in Delhi represents a significant step towards modernization and efficiency in property-related processes. This initiative aligns with the government's vision of digitizing services and will make things easier by reducing queues, preventing errors, harassments and corruption that occur during the process, ultimately benefiting residents and businesses in the national capital. As the system evolves and expands, it holds the potential to revolutionize property transactions in Delhi and serve as a model for other regions in India. About PropertyAngel PropertyAngel is a leading O2O (online-to-offline) second landlord platform. We are a Bangalore-based property management company offering professional property management for individual apartments, houses, and villas. If you need assistance in managing your property effectively in Bangalore, please contact us at (91-7406484455). In the ever-evolving world of real estate, millennials are making waves with their unique preferences and aspirations. Traditionally, previous generations focused on location and affordability when it came to buying a home. However, today's millennials are setting a new trend by opting for premium homes with luxurious amenities that offer both comfort and prestige. Gone are the days when purchasing a luxury home was seen as a milestone achieved later in life. Millennials are eager to invest in opulent properties and here are the reasons.  Financial Stability and Changing Work Dynamics
Experts suggest that millennials now make up a significant portion of the workforce, earning higher incomes and accumulating wealth at a faster rate than previous generations. With increased financial stability, they are more inclined to seek out properties that offer not only comfort but also prestige. From Tenants to becoming Homeowners In the past, millennials leaned towards renting rather than owning homes. However, the post-pandemic era has witnessed a significant shift in this attitude as they now desire stability. A recent survey revealed that more than half of the respondents consider real estate to be the best asset class for investment. Notably, 48 percent of those surveyed, falling within the age group of 25 to 35 years, indicated a growing inclination toward viewing real estate as a viable and attractive option for long-term investment and homeownership. The Desire for Bigger and Luxurious Homes Many millennials are now seeking bigger, more luxurious homes instead of smaller, minimalist living spaces. This shift can be attributed to the fact that as they start families, their housing needs have evolved. Premium Living Experiences In today's fast-paced world, the desire for premium living experiences has become a significant driving force behind millennials' real estate choices. They are seeking housing options that offer a range of upscale amenities, such as state-of-the-art fitness centers, rooftop pools, spa facilities and smart home automation systems. These amenities not only provide a sense of exclusivity but also cater to their desire for a seamless and convenient lifestyle. Long-Term Value Furthermore, millennials have recognized the long-term value of investing in premium homes. These properties tend to hold their value and offer the potential for high returns. As millennials continue to reshape the real estate landscape, their preference for luxury and premium living experiences is expected to drive innovation and change the way we perceive homeownership. In conclusion, millennials are redefining the real estate game by opting for luxurious properties, recognizing the value of real estate as an investment, and seeking bigger, more feature-rich homes. This generation is reshaping the industry with their unique blend of financial stability, evolving needs, and an inclination for premium living. About PropertyAngel PropertyAngel is a leading O2O (online-to-offline) second landlord platform. We are a Bangalore-based property management company offering professional property management for individual apartments, houses, and villas. If you need assistance in managing your property effectively in Bangalore, please contact us at (91-7406484455). Building National Real Estate Assets with events like G20 - A New Vision for India's Growth16/9/2023 In recent years, a significant transformation has been taking place in India's real estate landscape, driven by the need for strategic development beyond the national capital. Urban design experts are advocating for the creation of "national real estate assets" in cities across the country, inspired by the success of international events like the G20 summit, which have been held in various locations recently.  The Shift in Perspective
Traditionally, the focus of hosting national and international events has largely centered on Delhi, with venues like Vigyan Bhavan being the go-to choices. However, this approach is evolving, as experts recognize the importance of spreading the development to different cities. Prime Minister Narendra Modi emphasized this shift, highlighting the "democratization" of events, where the G20 Presidency has seen over 220 meetings in 60 cities, involving participants from diverse backgrounds and nationalities. Avoiding costly and impractical projects Creating such national real estate assets is a promising prospect, but the experts stress the need for meticulous planning to ensure their long-term utility. The goal is to prevent these venues from becoming "dead assets" that burden the host city. Modern Infrastructure for Progress One prime example of successful asset creation is the Bharat Mandapam, conceived as part of the Pragati Maidan redevelopment project. As the nation progresses, modern infrastructure is essential to keep pace with the times. These legacy assets, created with budgetary allocations, are expected to play a pivotal role for the next several decades. The need for More Facilities There is a growing need for similar facilities across the country. New infrastructure not only generates revenue but also projects India as a destination for meetings, incentives, conferences, and exhibitions (MICE) tourism on a global scale. Beyond International Use Experts advocate planning these assets to serve not only international events but also local purposes. Ensuring that these facilities remain viable in the long term is crucial to avoid economic burdens on host cities. Additionally, mixed-use development around convention centers can enhance their sustainability. National Significance and Economic Contributions These projects hold national significance, contributing to the economic growth of the areas they are located in. They create jobs, add value to real estate, and offer timeless design concepts. To maximize their impact, asset creation should be spread across the country to accommodate both national and international events. As India's real estate landscape evolves, there is a growing recognition of the need for strategic planning and investment in national real estate assets. These assets not only serve as venues for events but also contribute to the overall growth and development of the regions they are situated in. The vision is clear: a future where India's cities shine as hosts for national and international gatherings, with modern infrastructure and thriving communities. In conclusion, the creation of these national real estate assets represents a significant shift in India's urban planning strategy. It's a step toward a more inclusive and balanced development approach, ensuring that prosperity and growth are not limited to the national capital alone. The nation's journey toward becoming a global leader includes expanding its horizons and investing in the infrastructure of tomorrow, a vision that promises a brighter future for all. About PropertyAngel PropertyAngel is a leading O2O (online-to-offline) second landlord platform. We are a Bangalore-based property management company offering professional property management for individual apartments, houses, and villas. If you need assistance in managing your property effectively in Bangalore, please contact us at (91-7406484455). From co-working to co-living spaces – youngsters today have so many options. Remember back in the day when hostels were the only option for students moving out of their hometowns for college? Well, those days are long gone! With co-living spaces in India, you get all the benefits of a hostel, like convenience and safety, while feeling like you're staying in a hotel.  What is Co-living?
Co-living is all about meeting the needs of comfort, convenience, and community, which traditional living options often fall short on. Co-living spaces offer fully furnished rooms with all the necessary amenities. This includes a common study zone the students can use, a common kitchen, a utility space and a lounge area, and a private bathroom and bedroom each resident can access. Co-living spaces in India also provide cleaning and maintenance services. Therefore, you don't need to worry about separate payments for deposits, utilities, furniture, and those annoying agent commission fees. It's all bundled up under one operator who handles everything related to your living quarters. Now, there are many different ways to operate co-living businesses. Some operate with minimal assets, using profit-sharing leases or management agreements. Others prefer fixed market-based leases, which give landlords a steady income over a longer period. Since co-living attracts a wide range of clientele, these operators have the potential to scale up their operations, which means they can offer property owners higher incomes. Plus, they handle services like cleaning, furniture, and utilities, making the whole experience even better. It's a win-win situation for everyone involved! But it's not just about the physical perks. Co-living operators know how to create a sense of community. They organise events and meet-ups for all the tenants to mingle and have a good time. The Growth Story of Co-living Spaces in India Co-living spaces are gaining traction in Indian cities, both in terms of delivering services and customer acquisition. There's a shortage of accommodation options for students and people with new incomes, and the market just keeps getting bigger. That's why corporate developers and start-ups are embracing co-living. Goldman Sachs and Warburg Pincus have invested in co-living spaces as well. Renting is becoming more popular because of rising real estate prices and the younger generation's lack of commitment to home ownership. The old-school paying guest tradition just doesn't cut it anymore. Millennials have high expectations, and they want top-quality modern, affordable living spaces. In a survey back in 2018, 72% of people were totally on board with co-living spaces. And more than 55% of people were in the age range of 18-35 years. The survey, which covered big metropolitan cities, found preferred rentals included the brackets ₹10,000 to ₹15,000, while proximity to work and community infrastructure remained in the top priority for millennials. Many international brands are partnering with Indian names in Bengaluru, Pune, Delhi NCR, and others to rent apartment blocks and lease beds with amenities and services like electricity, housekeeping, and meals. Challenges of Co-living Spaces in India The operators of co-living spaces in India also face some unique challenges. One big challenge is low returns on investment. Therefore, the operators must be super smart about using the space efficiently. They need to make sure every inch counts and provide a seamless and hassle-free experience to their tenants. Also, compared to other thriving markets like Hong Kong and Singapore, Indian customers have lower spending power. So, co-living operators need to find that sweet spot where they can provide quality services while keeping the costs reasonable for their customers. Why Do Millennials Prefer Co-living Spaces in India? Young professionals and students often face many issues dealing with landlords and agents. They have strict and biassed mindsets and make decisions based on their own rules. They also come up with arbitrary policies, like curfews, no friends or family allowed, and even dictating food preferences. It creates a frustrating living atmosphere, especially for young adults trying to find their way in the world. And let's not forget about the outrageous rental deposits they demand. It's difficult, especially when you're starting your career or relying on your parents for financial support. However, co-living spaces in India are here to save the day. They're making a real impact in this chaotic rental market. Co-living space operators are offering comfortable and trendy living spaces with clear pricing policies and managed services. And the best part? You get to experience a collegiate atmosphere with a cool community vibe. About PropertyAngel PropertyAngel is a leading O2O (online-to-offline) second landlord platform. We are a Bangalore-based property management company offering professional property management for individual apartments, houses, and villas. If you need assistance in managing your property effectively in Bangalore, please contact us at (91-7406484455). |
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