As 'Sold Out' signs dominate the skyline of Gurgaon's real estate market, uncovering the emerging trends feels like embarking on an exhilarating quest for buried treasures. Today in this blog Samudragupta Talukdar CEO of India’s leading Proptech giant Relata joined us to decode the upcoming trends in the dynamic landscape of the Gurgaon real estate market.
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From shifting consumer preferences to technological advancements, Samudragupta (Sam) sheds light on the trends shaping the future of real estate in the bustling city of Gurgaon. Together let's uncover the intriguing shifts and emerging patterns that are shaping the future of real estate.‍

North: Emulating the Dubai Dream‍

Dubai’s booming real estate market is no longer a secret to anyone and the North side of our country is trying to replicate the success of Dubai's red-hot real estate market, which is characterized by the rapid sale of units.
Sam shared his recent encounter with one of the global real estate directors, India head who highlighted Dubai’s real estate transition. He shed light on the market's evolution, revealing a burgeoning interest in luxury properties priced at 4-4.5 crores. This shift signals the heightened commitment of luxury buyers, backed by substantial financial prowess. Additionally, the Dubai real estate market is Realty Broker-driven, and here in Gurgaon, the recent adoption of allotment systems mirrors Dubai's approach.

‍The Anticipated Shift in Gurgaon Real Estate ‍

In Bombay, where trends remain consistent, whether it's for luxury property or normal.  Brokerage in the north is quite on the higher side however, Gurgaon's real estate landscape is poised for a paradigm shift, with smaller developers releasing brokerages in just 15 days, and that’s because they have zeroed down the direct sales team. Sam also mentioned how from North to South, from Small players to industry pioneers everyone is eager to incorporate tech in real estate.‍

The FOMO Phenomenon: Fueling Sales in Gurgaon‍

Everyone is saying properties are getting sold faster in the North, so how’s that happening? Sam shines a light on the pervasive FOMO (Fear of Missing Out) culture gripping Gurgaon’s real estate market.

Properties are touted as "sold out" within 48 hours, triggering a sense of urgency among buyers. It almost feels like advertising “sold out” has become nothing but a marketing gimmick & Beneath the facade lies a tale of manual processes, cheque failures, and lack of clarity, underscoring the need for technological interventions to manage the frenzy. This is exactly where Relata comes into the picture to overcome the challenges of being sold out.

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The Relata Advantage - Winning over Consumer Expectations

‍Sam emphasizes how in today’s time consumer expectations revolve around convenience, transparency, and clarity. Buyers seek comprehensive information about pricing, project progress, and the overall purchasing process.

Relata not only understands these needs but also addresses these expectations by offering tools for Presales, Visualization, and Post-Sales management, thereby enhancing the customer experience.

‍Looking Ahead: Sam’s Predictions for Gurgaon Real Estate Market‍

Peering into the crystal ball, Sam predicts a surge in luxury property sales, fueled by rising demand and limited supply in areas like Gurgaon. Luxury properties are expected to dominate the market, catering to the evolving preferences of buyers, especially millennials and Gen Z. Many new developers are coming into Gurgaon because of this reason.
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Sam mentions how the buying habits of Indian people are no longer affected by the changing regulatory acts and with the increasing buying power of individuals, the Indian real estate market is witnessing a surge in activity, particularly in regions like Gurgaon.
In Gurgaon, the culture of flaunting luxury has become synonymous with the region, while Gurgaon's comparatively lower cost of living is attracting attention. As a result, luxury properties are poised for heightened demand, signaling a shift away from the spotlight traditionally held by 1BHK units.‍

How is Relata contributing to the evolving trends in the real estate market? ‍

Relata has always been a beacon of innovation in the real estate market, working towards the vision of empowering anyone and everyone in the real estate ecosystem.
As the market keeps growing Relata is ready with its brand-new tech innovations to revolutionize the real estate experience.
Samudragupta unveiled how the Relata team is spearheading the development of two transformative applications poised to redefine the real estate landscape.‍

Broker Ecosystem Technology Application:‍

A complete technology application or an ecosystem for brokers & channel partners, serving as a comprehensive ecosystem to facilitate every step of the sales journey. From lead generation and nurturing to converting prospects into site visits, and ultimately, translating visits into bookings and allotments, from allotments into billing. This system streamlines the entire process and fosters a symbiotic relationship between brokers and developers.‍

Enhanced Visualization:‍

Recognizing the importance of captivating visual representations in the real estate realm, our team has engineered a solution that alleviates the burden on developer closing managers. This application focuses on delivering impactful visualizations, enhancing the product's allure and marketability. Moreover, it caters to the needs of Channel Partners (Realty Brokers) by providing a visually appealing app to manage leads and streamline operations globally, transcending geographical boundaries.

‍Relata's Role in Streamlining Operations: ‍

Sam emphasizes how Relata’s diverse range of product suites streamlines every operational aspect of real estate whether it’s pre-sales or post-sales. From handling expressions of interest (EOI) to managing allotments, Relata offers a comprehensive solution. For post-sale activities such as it's providing construction updates or issuing demand letters, Relata ensures seamless operations, empowering stakeholders at every stage.
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Samudragupta's insights offer a glimpse into the transformative trends shaping the Gurgaon real estate market and underscore Relata's role as a catalyst for innovation in the industry. With the use of marvelous tech, we can only anticipate unparalleled growth and unmatched buyer satisfaction. Needless to say, the future of Real Estate is brighter than ever before and the 1 trillion dollar industry isn't very far anymore.