New Delhi: The festive season in India is traditionally viewed as an ideal time for major financial decisions, including investing in real estate, with the belief that festivals bring prosperity. However, beyond cultural factors, the decision to buy or rent a home is increasingly influenced by location and economic trends. As homebuyers seek properties that align with both their aspirations and practical needs, geography plays a crucial role in determining whether buying or renting makes better sense.
Here we have talked to experts to gather insights on how geography influences the rent or buy decision. LC Mittal, Director, Motia GroupThe geographical nuances of India’s real estate market continue to improve the rent or buy equation.” The people in India will rent instead of buy properties as long as the affordable segment subsidy remains in place and excludes most of the residents potential buyers.
In technology hotspots like Bengaluru and Hyderabad, IT worker’s work is usually of a short-term nature therefore one prefers renting even though property rates are fairly cheap, rather than purchasing any property. In India where cities like Kolkata or Chennai exist, where home buying is a culture, people may want to buy even when the market is not favorable. Newer smart cities like Bhubaneswar or Indore seem to be good places for buying real estate worth as there are lower entry prices and potential future growth.
Aman Gupta, Director, RPS GroupGeography is a deciding fact.
