Growth of real estate to be stirred by niche areas

As per the findings of a report compiled by internationally renowned real estate experts, amusement parks, affordable housing, logistic and education hubs as well as healthcare are amongst the niche areas which are developing within the realty sector.

The country’s real estate industry up until the fiscal of 2000 was restricted mostly to commercial, industrial and housing segments. Present day, however has been witnessing the new asset classes like healthcare, entertainment, education, transit-oriented realty along with housing conducive for senior citizens. Concepts such as these have added a new dimension to the realty sector and these concepts are expected to incite growth, and allure the attention of developers as well as investors alike.

Housing segment for senior citizens:

The report further states that numerous builders have recognized the profitable opportunity within the housing segment for senior citizen. Until April of 2013, forty such projects were proposed to be established within South India. The housing segment for senior citizens, in addition to ambient residential space also caters to security, healthcare and emotional needs of the senior residents. Bangalore is poised to witness the establishment of seven such projects.

Aerotropolise:

The South Indian real estate sectors of Bangalore, Kochi and Hyderabad possess the potential to be developed and established as aerotropolises or airport cities.

The concept of ‘aerotropolise’ is a new concept for urban planning which keeps airports as the epicenter and develop cities around them, connecting suppliers, workers, executives, along with the goods to the global marketplace. The concept envisages the growth of the city around the airport to be within a radius of around 25 kilometers to increase non-aeronautical revenue.

Sports cities:

The proposal put forward by corporate groups to constitute sports cities within the city of Bangalore, is yet another development scheme.

The simple aspiration of such schemes is to promote and boost sports by administering world class facilities. Falling under the entertainment segment, such sports cities are expected to prompt growth of residential townships which are sports-themed.

Amusement parks:

In accordance with the report, the amusement park industry which is in its nascent stage, is expected to grow exponentially. Out of the 42 parks located within South India, Karnataka possesses eight. 

Healthcare:

In the light of requirement for integrated education cities to supply quality education in conjunction with amenities for both students and faculty, the growth potential of real estate pertaining to education is massive. Similarly, health and medical cities allure other realty developments like serviced apartments along with hotels for medical tourists.

For example, in case the of Manipal, wherein an entire village evolved into a university town.