On average, luxury property prices have remained stable in the last four years, while stamp duty reduction had given an extra push to the housing demand. We expect the housing demand to continue however the rising cost of commodities may get transferred to the end buyers leading to a 5-7% hike in the prices.
Another interesting trend emerged with the outbreak of the Covid-19 pandemic. People have now realised the importance of owning more spacious and comfortable houses since work from home became the norm.
While there is an emphasis on space and amenities, new-age home buyers have also become conscious of green architecture and sustainable construction.
With the Indian government showing an urgency to achieve the target for full vaccination, chances of a severe lockdown seem unlikely, even though the Omicron threat looms large. Economic fundamentals are thus expected to remain strong enough to continue the uptrend for the real estate sector in the coming year – Yuvraj S Rajan, Director at Raiaskaran
Yuvraj S Rajan, Director at Raiaskaran–Profile
Mr Yuvraj Rajan is one of the youngest Directors in the Real Estate Industry in India. A 2nd generation entrepreneur, Mr Rajan has been leading Raiaskaran for closer to a decade and plays a crucial role in bringing innovation to the firm in terms of design thinking, aesthetics and sustainability.
He completed his Bachelor of Science in Business Management with a concentration in Real Estate, Sustainable Development and Entrepreneurship from Babson College, Boston and instantly joined Raiaskaran to lead project innovations. Conscious of the pedigree and lineage associated with the company, Mr Yuvraj Rajan has introduced some of the world’s most acclaimed architects to India.
Bringing the best from the world of architecture and inspiration from art, he has been instrumental in providing the maximum value to the stakeholders at Raiaskaran. Under his leadership, the brand has taken initiatives such as switching to green energy sources by approximately 40% across its commercial assets and acquiring LEED platinum pre-certification (one of the most stringent certifications globally) – for their upcoming commercial project in Bandra.
He has also established a private-public art gallery within the system and is continuing to grow the cultural impact of Raiaskaran. Mr. Rajan likes to explore new architectural and design trends while being a major art aficionado. He is also an avid reader and loves reading books on business.