Knowledge Hub

We live in a globally connected world and this has led to the real estate sector experiencing disruption led by nomadic millennials, who are redefining the meaning of ‘living’ and ‘working’. The concept of ‘shared economy’ has just started to unfold in India and the days ahead look much more exciting. Unlike earlier when ‘ownership’ was fundamental to success in life, today ‘sharing’ has taken the centre stage.

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For most Indians, buying a home is one of the biggest decisions of their lives, and this is not surprising considering that a substantial portion of a homebuyer’s monthly salary is pledged towards repaying a home loan. Despite the fixed financial burden an EMI involves, ownership is still the biggest aspiration of millions in the country and carries with it the stamp of having ‘arrived’ in life.

In my travels across India, I have visited several destinations and met numerous homebuyers. In all such interactions I observed the rigour with which they evaluate various factors, be it social and physical infrastructure, affordability or the supply of high quality housing stock, before arriving at the big decision of where to
buy a house. Having seen that the decision making is very complex and emotional, we decided to launch a series of reports to aid this. JLL’s Tour of India’s Top Residential Hotspots attempts to facilitate the complex decision making process by identifying three residential hotspots in each city through a multiple- criteria-decision-analysis.

Technology is changing the way commerce is conducted globally and every sector, from manufacturing to services, is gradually experiencing the impact in multiple ways. Real estate is not immune to this and is already beginning to experience the dynamism that technology brings to the core of how businesses are run.