The Delhi-Dehradun Expressway is attracting a lot of interest among the several infrastructural projects proposed by the government. With a length of 210 kilometers, it would reduce travel time between Dehradun and Delhi and aid real estate expansion in a variety of micro-markets.

The Dehradun Delhi Expressway is currently under development. It would run from Delhi’s Akshardham to Dehradun, Uttarakhand, via places including Saharanpur, Bhagpat, Shamli, and Ghaziabad. This highway would allow people to commute between Delhi and Dehradun once it is operational. It will cut the journey time in half, from six to two hours. The construction will boost the real estate market along the length, and realtors are optimistic about it.

Nitin Gadkari, the Union Minister of Road Transport and Highways, launched the new economic corridor between Delhi and Dehradun in February. The 210-kilometer, six-lane express highway project is scheduled to be awarded in August 2021 and finished in 2023. The Delhi-Dehradun Expressway would cut the time it takes to drive from New Delhi to Dehradun in half, from five to two hours.

In the new economic corridor, a new six-lane road will be developed from the Saharanpur bypass to Haridwar. The current six-hour trip time between the national capital and Haridwar will be reduced to just two hours using this route. The construction will boost the real estate market along the length, and realtors are optimistic about it.

In addition, the project would improve communication between Delhi and Tronica City (now known as the Trans Delhi Signature City). Ghaziabad is a rapidly expanding residential neighborhood. The real estate market in this area will also see tremendous expansion once the highway is completed. The project is also projected to assist Ghaziabad’s Mandola Vihar region.

Real estate development along highways has been popular in India, and it has a lot of promise. During the real estate boom in India, major transportation routes such as National Highways and State Highways saw tremendous expansion. In these regions, the government has also aided in the acceleration and promotion of industrialization. Along the corridors, a mix of manufacturing units, public utilities, logistics, environmental protection facilities, residential areas, social infrastructure, administrative services, and a few industrial regions has been developed in a methodical manner. These have aided and hastened economic expansion even further.

One of the famous locations that would benefit from the Expressway is Haridwar. People searching for vacation houses already know about the city, and now more will invest there. The Metro train route proposed from Nepali Farm to Vidhan Sabha in the Dehradun district is another boon for real estate in Uttarakhand. The Unified Metropolitan Transportation Authority (UMTA) approved the 73-kilometer Deharadun–Haridwar–Rishikesh Metro Rail line in Uttarakhand in June 2020.

The Delhi-Dehradun Expressway is a multibillion-dollar transportation infrastructure project that will benefit numerous real estate markets in Delhi, Uttar Pradesh, and Uttarakhand with the highway comes the construction of spurs, which will lead to much more expansion.

Several property developers in India are already entering the vacation house market in response to the growing demand for second homes in coastal or hilly locations, as rich individuals increasingly want to own second homes in these locations.

In 2021, India’s residential sector had a resurgence, with house sales and new launches both increased significantly since the third quarter of the year. The strong trend in luxury vacation houses and second-home investments is projected to continue throughout the year. While the third wave of COVID may slow the recovery of the real estate market, luxury vacation houses will remain untouched because they have always been in high demand among the wealthy. Due to the public health issue, however, a significant shift in perspective occurred, and property purchasers began to hunt for second homes as well as their primary residences.

Not just people’s aspirations, but also the government’s efforts to stabilize the housing market are important factors in pushing real estate purchases, especially holiday houses. The Monetary Policy Committee (MPC) of the RBI, for example, agreed to hold the repo rate at 4% while keeping the reverse repo rate at 3.35 percent. This accommodating attitude will aid luxury real estate growth in the future years. This year is likely to provide a much-needed boost to the industry, and all states may assist speed up the recovery process by proposing new homebuyer incentives or implementing stamp duty waivers.

Work-from-home or hybrid model strategies have also boosted demand for vacation properties. This is good news for luxury real estate projects that want to take advantage of the trend by gradually stabilizing and developing the luxury real estate market.

Pandemic has had a significant impact on how we work, it has also had a significant impact on how we live our lives as a whole, including how we have modified our lifestyles to be more healthy. Due to the epidemic and the uncertainty it has brought, people are more willing to purchase larger homes. This, together with reduced bank lending rates, has helped to maintain demand for second houses consistent during this tough time. Following the COVID period, people desire to live, exercise, and enjoy life in new ways. As a result of these determining factors, purchasers are seeking homes that are larger and more spacious, as well as residences with green environs as additional criteria. Additionally, recreational areas and daycare facilities have been included in the list of top amenities.

Based on favorable mood drivers, India’s vacation homes market is positioned for substantial development in the new year. Furthermore, given the current economic climate and market attitudes, demand for luxury vacation houses or second homes will continue to grow in the future years. In most cases, the second investment or vacation house is the holiday home, and buying a luxury holiday home in Goa will become a popular choice among purchasers in the future.

The Ministry of Housing and Urban Affairs has estimated the Indian restate market to be around $200 billion (MoHUA). The government also forecasts the sector to develop at an exponential rate in the future years, reaching a $1-trillion market by 2030, with the luxury segment playing a critical role as a growth engine.

From demonetization at the end of 2016, to the problem with non-banking financial firms (NBFCs), to eventually Covid, which disrupted supply and demand, the real estate business has witnessed a lot of changes in the last few years. The Real Estate (Regulations and Development) Act of 2016 (Rera) faced early hurdles, as does any new legislation in any industry.

While there are still some challenges for purchasers, such as rising interest rates and pricing, industry analysts predict that the real estate market will increase in the future.

India is the world’s fastest-growing major economy, and the Indian government’s massive capital expenditure program promises a big increase in employment and the start of a new consumption cycle for the country. Real estate will be an important area to keep an eye on.

After agriculture, the real estate industry in India is the second-largest employer. India’s real estate industry is predicted to grow from US$ 200 billion in 2021 to US$ 1 trillion by 2030. It will account for 13% of the country’s GDP by 2025. The emergence of nuclear families increased urbanization, and rising family income is projected to remain the primary drivers of real estate expansion in all sectors, including residential, commercial, and retail. Real estate development is being pushed by the country’s rapid urbanization. By 2020, metropolitan regions will account for around 70-75 percent of India’s GDP.

In only one year, India’s real estate business sold almost 1,700 acres of land in the top seven cities. Between 2017 and 21, foreign investments in commercial real estate totaled US$ 10.3 billion. Developers anticipate a surge in demand for office space in SEZs once the present SEZs legislation is replaced in February 2022.

Institutional investments in the Indian real estate market are predicted to rise by 4% to Rs. 36,500 crore (US$ 5 billion) in 2021, owing to growing investor interest in capturing excellent prices in the face of the epidemic. Private equity investment inflows into India’s real estate industry were US$ 3.3 billion between January and September 2021.

In 2021, despite the pandemic, the real estate sector had a wonderful year. A surge in housing demand has resulted from increased awareness of health, sustainability, future security, and solid investments. The residential sector was quick to implement digital solutions to keep business operations running and was better equipped to withstand pandemic shocks this time.

Supportive government policies, customer-friendly low tax regimes, low-interest rates for loans, solid investments, digitization, and, most importantly, the recognition of real estate assets among purchasers as a guarantee of a safe future boosted consumer confidence and market emotions. Residential real estate has evolved into a buyer-centric market, and the industry has a bright future ahead of it in 2022.

As a result of the pandemic, numerous new trends in the residential sector emerged, encouraging real estate developers to accommodate the changing tastes of purchasers. Due to trends such as work from home, e-schooling, reverse migration, and the desire for a house with wide areas amidst lush vegetation, Tier II and III cities emerged as unquestionable winners and drew potential purchasers. In addition, flexible employment regulations have prompted many to explore housing options in their hometowns. Housing demand in growing places has been bolstered by affordability, world-class infrastructure, strong connectivity, fewer traffic jams, low pollution levels, affordability, and a higher quality of life.

Buyers’ preferences have shifted dramatically, and they are now looking for larger apartments with adaptations such as huge open spaces, additional rooms, contemporary conveniences, dedicated office spaces, study rooms, workout and entertainment zones, balconies, and other amenities for a luxurious lifestyle. Buyers are increasingly looking for contemporary homes in areas with well-developed social infrastructures, such as retail complexes, schools, hospitals, and banks, as well as movie halls, restaurants, and other amenities.