How to Invest in Residential Real Estate in 2024

Residential real estate in India has always had an emotional connection with people, including existing homeowners and those planning to invest in their first home. Decades ago, single-storey houses or bungalows were the norm in India. However, with the rise of modernization and urbanization, gated communities in Hyderabad and in India have emerged as highly sought-after options for discerning buyers.

But with the advancing times, there is an increasing demand for multi-storied apartments. Such apartments save space in expanding cities while bringing like-minded people together. But gated community villas are also a trend nowadays. 

Recent investment trends in residential real estate

There has been remarkable growth in this sector due to rising disposable incomes, demand for bigger homes, policy reforms by the government and positive consumer sentiment. According to Anarock report, the 2023 sales in India’s top seven cities closed at around 4,76,530 units, a 31 % rise over the previous year. Also, the demand for luxury housing units is increasing year on year. 

A new concept of luxury house co-ownership is picking up steam. Multiple people, including you, can co-own a luxury home in alluring locations across India with shares allotted to everyone. Every co-owner can stay up to a specified number of days at the house by booking through a dedicated app in advance. 

The demand for luxury with global designs and decor for an exquisite living experience is high.

Tips on investing in residential real estate in 2024

1. Research: You should thoroughly study the market trends, regulations and potential risks. 
2. Location: It matters a lot as it decides the property value, future appreciation, access to facilities such as schools, workplaces, shopping, etc., and connectivity to major transportation hubs.
3. Reputation & trustworthiness:  If you’re a first-time investor, make sure you buy only from reputed developers. Verify their financial stability, quality of projects and check for authentic customer reviews.
4. Understanding government policies: Many important policies have been created by the government for the benefit of customers like you. Some of them include RERA, PMAY, etc. Hence, keeping yourself abreast of the latest policy updates helps you execute a smooth sale deed.
5. Finances: You should have a clear idea of what your budget should be. Minor changes can happen in-between as per the situation. You should be able to accommodate your down payment, remaining payments, stamp duty, registration charges, and more. This ensures a stress-free purchase journey.
6. Rental yield & future appreciation: A good rental yield ensures better returns on investment. Also, a study of the future development where the property lies while looking at historical trends gives you an idea about its appreciation. 
7. Legal due diligence: The property should have clear titles and be free from litigations and encumbrances. Appoint an expert and trusted lawyer to check for legal issues. 
8. Patience: Investments in real estate take time. It may take time for the property to appreciate in value or generate rental income. But proper research and smart investment choices can reward you in future.

2024 sounds more promising

So, these simple steps can make a big difference to the outcomes of your residential real estate investments. Hence, the future of the residential real estate sector seems to be very bright.

Sukhii Ubuntu from Sukhii Group stands as on of the signature gated communities in hyderabad. If you’re looking forward to investing in your first home or another home, Ubuntu will be your perfect choice.