Supertech director predicts that high rises will be for masses soon
As urbanisation is spreading at a fast pace in India, the pressure on land is ever increasing as availability of land is getting scarce.
As a consequence, number of high-rise residential projects coming up in Noida, the NCR or elsewhere in the country is adding up.
Mohit Arora, the Director of realtor Supertech Group, have stated that real estate sector will go through change in future. He stated that presently there are options available for masses – low rise buildings, villas, bungalows or a row house etc and the high rises are considered to be the premium segment.
However, he stated that increasing purchasing power and high land cost going would create a situation where affording a low rise building would cost more and the high rise developments will not only target high income classes but masses too. He predicts that under those circumstances, soon the prices of the high rises will come down.
To read more real estate news:
Affordable housing gets a boost in Hyderabad
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