The residential sector in India is witnessing a huge growth. Those who have entered this industry are making huge profits. There are many millionaires made by this industry. The new entrants in the property market are developing townships and colonies have office complexes, commercial spaces, hospitals, multiplexes all at one place.
The Indian government has also given the real estate industry many facilities. The policies of the government for the investors in all the sectors have facilitated this growth. The residential real estate consists of 75% of the total real estate. People are buying houses. The old trend of building the house at the time of retirement has changed. As soon as a person is settled the first thing he/ she does is to buy a flat.
As the salary in almost all sectors has improved and the interest rate has lowered, there is an improved level of activity on the part of retail investors in the residential sector, especially in the low to mid-end housing sector.
People in small towns and cities are building houses or flats as it has become easier to get housing loan. A two bedroom flat in a metropolitan will cost up to 30 lacs, but the same will cost up to 20 lacs in a small tier 3 town. In place like Mumbai the rate is still higher. Still there is no dearth of property developers or buyers.
Those who are shifting from small towns to metropolitan cities, the first thing they do is to save some money for margin money and then take a long-term loan and buy the property. The HRA they get is used to pay of the monthly installment. The upward moving young professional are buying one property and then, going to buy the second one.
The property developers are also concentrating on this segment as it is the most viable segment right now. You won’t find any space left anywhere, if there is scope for development of property, you will find it developed. The whole scenario is of the real estate has changed.

The new townships being developed in India are being developed by private builders. They are building self-sufficient townships in the outskirts of big cities. The residents of these townships do not have any need to go anywhere. School, shopping arcades, hospital, and office complexes all are located in these townships. One very prime example is the Hiranandani Garden in Powai or Thane in Mumbai. These townships have been developed and have all modern facilities that anyone could want. What’s in a name, you may ask.
The residential townships being developed now is particularly influenced by western architecture. Many times the architects are not Indian, but are foreigners. The names in these complexes are also western name like Florentine, Hamilton house, Mayfield garden and so on.
The trend to keep such western name reflects the demand of modern Indian. The designs and architecture of the residential townships, commercial or retail shops is totally influenced by western architecture and style. For all major properties the design and master planning is mainly done by international architects, project names also reflect the same.
Moreover the trend to give brand name to properties has also started in India. The brand name suggests a particular type of architecture, generally done by same architect and the design and flow of the township is almost the same. For example, the Donald Trump Residences is a brand linked with luxury housing, and whenever you hear the name the design comes to your mind. You associate a particular standard with these brand names.
Another trend is setting up with the names being given in form of flowers or cities instead of A/B/C/D or 1/2/3, etc. The international standard of residential housing is making a huge impact on the development of projects in India and you can easily see this impact in the building in Gurgaon. The new trend offers more comforts to the customers and is here to stay.