The Indian real estate sector has witnessed impressive growth, soaring by 73% since 2015 to reach a market size of USD 482 billion. This surge is largely fueled by the country's economic expansion, enhancing demand for residential and commercial properties. Industry experts suggest that today's homebuyers in top cities are increasingly cautious, prioritizing environmental sustainability and safety in their decisions.<figure class="image"><img src="https://www.signatureglobal.in/blog/wp-content/uploads/2024/05/Industry-News-9.jpg" alt=""></figure>Gurgaon, often hailed as the millennium city, has risen as a pivotal real estate hub in India over the past few decades. Known for its robust job market, the city also offers excellent healthcare and education, making it an attractive place to live. The real estate landscape here is evolving to meet these growing demands, providing a variety of housing options ranging from <a href="https://signatureglobal.in/signatureglobal-deluxe">luxury apartments</a> and gated communities to <a href="https://www.signatureglobal.in/residential/affordable/">affordable housing</a> projects supported by government initiatives.The demand for properties priced between Rs 45 to 90 lakh is particularly strong, as evidenced by the ANAROCK 2023 home buying trends survey, which found that over 33% of prospective buyers favor this budget range. This preference is driven by the expanding middle class and professionals employed in the city's numerous IT and corporate sectors.Gurgaon's commercial real estate market is equally vigorous, buoyed by the presence of multinational corporations and a flourishing startup ecosystem. Its strategic infrastructure, featuring state-of-the-art office spaces and excellent connectivity to Delhi and other NCR cities, makes Gurgaon a preferred business destination. The high demand for office spaces here significantly contributes to the sector's growth.The city continues to attract substantial real estate investments, offering a broad spectrum of properties from ultra-luxury apartments to budget-friendly options. New sectors in Gurgaon are seeing continuous property appreciation. The high demand for residential spaces is spurred by Gurgaon's status as a major economic hub and the steady influx of individuals seeking employment opportunities.In terms of commercial real estate, the market is predominantly driven by the IT and technology sector. Gurgaon is home to numerous tech parks and office complexes that cater to the needs of tech giants and startups alike, ensuring a robust demand for <a href="https://www.signatureglobal.in/deluxe-dxp-commercial.php">commercial spaces</a>.<a href="https://www.signatureglobal.in/">Signature Global</a>, notes that the presence of a young, educated workforce and the city's reputation as a tech hub continue to fuel demand for commercial properties not just in Gurgaon but across other urban centers as well. Their commitment to delivering quality, environmentally friendly real estate projects on time highlights the industry's shift towards sustainable development in response to consumer preferences.Overall, the Indian real estate sector is adapting to meet the demands of a new generation of buyers who are more environmentally conscious and value safety and quality of life above all. This shift is driving the industry towards a future where growth and sustainability go hand in hand, promising a brighter outlook for all stakeholders.

Sustainable Growth: How Evolving Consumer Preferences Are Shaping India's Real Estate Sector