The Hottest Construction Trends in Mumbai
2017 is going to be a good year for India’s real estate market, especially Mumbai. Real estate, economy, and construction has taken flight in a couple major cities in the region. Marked as a top real estate investment destination in the eyes of major and minor investors alike, it has turned around from the once under-developed area it used to be.
Many investors are purchasing real estate properties to either live in, invest in or flip for a profit. Those who invest wisely tend to work with reputable remodel contractors to get the property in Mumbai up to date and ready or renters or to flip and sale.
The 2017 year has seen quite a few construction trends that have come into play for building as well as remodeling this year. With a growing need for renewable energy, it is the top construction trend on the list for 2017.
Renewable Energy Infrastructure
By the year 2022, India is hoping to generate energy on almost every building throughout the area. Powering the homes, business offices and other buildings, contractors provide the necessary equipment on each of these buildings to power the structure, but also give back to a bank where others can use the renewable energy to power their structures.
By 2020, the government wants to provide more energy-efficient, sustainable building environments for one and all. This means cleaner air, better buildings and long-lasting effects that are beneficial to the area. With billions of dollars allocated to this type of building, many homes and businesses are making the change.
All the materials used by contractors working on structures will be green. To have sustainable buildings that are also environmentally friendly, the materials used for building should be recyclable, renewable, healthy for the environment. This is appealing to many homeowners that wish to have something better for the environment when building.
Currently underway, India has undertaken the 100 Smart Cities Mission, making the roadways, buildings and outside atmosphere more environmentally friendly, while also cleaning the air, using renewable sources and provide a way to clean up the streets. Contractors now must adhere to the specific building rules set forth by the Mission.
The government’s mission is to provide more affordable housing units for families across the entire country. Hoping to have this done by 2022, contractors are used to construct around 20 million affordable housing units across the entire country. Each one will pertain to the energy and green codes, but also provide more housing to those that are looking for somewhere to live.
Did you know? The construction vehicle segment of India accounted for the largest portion of revenue share back in 2016. It is only going to get better in the upcoming years with the green projects that are in motion.
Deciding to invest in a home in Mumbai is a big decision. The market is great for it currently, allowing you to make a transaction worthwhile. Keep in mind, if you’re purchasing a property to rent out, a property manager is ideal to have. Those that want to purchase to vacation in or live in Mumbai long-term can also benefit from these hot construction trends gracing us in 2017.