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Despite global economic uncertainties, India's proactive development measures propel its economy to the fifth-largest globally, buoying its residential real estate sector.

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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

Research: You should thoroughly study the market trends, regulations and potential risks. 

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.

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.

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.

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.

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. 

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. 

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.

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A Guide to Buying Your First Home in Today’s Market

The very term ‘First Home’ strikes a special chord with most people. This is very true in India, where homes, especially the first ones, come with a huge emotional connection. We live in a world where there is heavy competition in the residential real estate market. You can choose from brands, amenity offerings, locations, and even financing options. 

What do you need to do?

Budget: Set a budget for buying the home. This includes the registration fee, stamp duty, taxes and even broker fees if the process involves one. Buying the house through a home loan? Make sure you get a clear picture of the EMIs you’ll be paying and the period of time.

Location: It reflects your requirements and personality. You might be someone who loves a peaceful environment with green spaces. Else, you may love a place that’s very much happening. Your house location determines your family needs such as the distance to your kid’s school and workplace, etc. 

Direct or broker: You could choose to make your home purchase via a real estate agent. Otherwise, you could contact an appropriate real estate company directly. If you choose the services of a real estate agent, make sure they have good options to match your requirements. 

Also, make sure they follow a transparent process throughout the purchase journey.

Timing of purchase: Certain times of the year can give you numerous offers on housing units. This could be during festivals, new year or the close of the financial year. If there’s no hurry, you stand a good chance of getting your dream home at a better price. 

Other important things to be done

Payment: Do you intend to finish the payment in one go? It would be an excellent option. Else, if you intend on taking a home loan, check for pre-approved loans. You can also research the latest and most attractive offers. Following this, you can approach the bank for more details and initiate loan processing. 

House size and floor rise charges: It’s important that you have a clear picture of your house size. Without clarity on this point, you won’t be able to make up your mind no matter how many good offers you may have in hand. Also, housing unit prices increase with each upper floor level. 

Hence, you must think deeply as to whether your home should be on the lower, middle or higher floors.

Finalising the sale: Before you finalise the sale, do a thorough inspection of the house. Also, ascertain its resale value. This gives you an upper hand while negotiating its final price or getting repairs done. 

If you’re sure that everything is fine and set to go, pull out your pen and sign the dotted line.

Therefore, buying your first home in today’s market requires a clear understanding of your requirements and close scrutiny of the various offerings. 

The Sukhii Group is the leading real estate company in Hyderabad. If you’re still searching for your first home, we would recommend Ubuntu. Contact us for more details.

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Factors to Keep in Mind When Purchasing a Home as a Pet Owner

Purchasing a home as a pet owner requires thorough research. Firstly, we wish you all the best if you’re planning to buy a new home. Apartments built today have far better facilities for accommodating pets, unlike those built years ago. Even housing societies have become pet-friendly.

When you have a pet, it’s part of your family and, hence, requires enough care. This includes food, staying quarters, freedom to move about and even a play space to walk or run around freely. 

Every housing society has pet laws. Hence, you should study them thoroughly before you make your purchase decision. This includes points such as causing no disturbance to fellow apartment mates, tidying up after walks and many more. 

Keep your pet bio-ready before purchasing a home.

Your pet bio can include your pet’s name, registration information, vaccination history, city corporation tag, regular activities, toilet habits, details of veterinarians and their friendliness with humans. 

This helps you in a scenario where your housing society demands it.

Laws you must know before purchasing a home as a pet owner

Banning pets in housing societies is illegal

No ban on pets according to breed or size

No ban on pets from using common facilities

Defining a time when pets can access gardens, parks, etc

Pets must always be accompanied by their owners

Compulsory maintenance of vaccination records

Designation of feeding spots

Designation of defecation spots

What factors should you keep in mind when purchasing a home as a pet owner?

Spacious homes: A must-have! A spacious home gives your pets enough place to roam around and play freely. It helps them become stress-free.

Open & green spaces: Green areas in your community complex give your pets an opportunity to play and roam around without worries. This is helpful in maintaining their physical and mental health, too. Your pets will love you for this opportunity as it helps them relax and be at ease. This helps you and your neighbours too.

Ubuntu’s dedicated Pet Corner will definitely help your pet unwind.

Location: A good location helps you and your pet. You could take your pet for a walk in your locality or easily get access to pet supplies, veterinary doctors, etc. 

Security: You must feel at ease when you have a pet. Hence, a secure home will help you minimise the risk of danger to your pet.

Pet-friendly features also help your pets unwind. They help them get a good view of the outside, take a nap, sunbathe, or play with you.

Pet-friendly societies help you access more resources and services and help build better social connections.

Hence, with a little extra effort, you can ensure a great time with your furry friends. This also reduces the stress arising from the hustle and bustle of city life.

If you’re planning to purchase your dream pet-friendly apartment, you’re at the perfect place. Hence, Ubuntu’s pet-friendly culture makes it the ideal place for pet parenting. Call us today for more details. Visit our website Sukhii Group.