The real estate industry is one that does not face depreciation. Continuous development is always taking place and it is always evolving. The government has come up with policies and investment plans that have been instrumental in increasing the investment value of the real estate industry in India. Since the initiation of Foreign Direct Investments (FDI) in 2005, the real estate industry has come to be known as the Indian property bubble. The real estate industry is the second largest in terms of foreign investments which has led to three times the size of the turnover of the industry prior to the FDI policy being initiated, facilitating other countries to invest into the Indian real estate industry. This has created a very positive identity for the industry. A rapid growth in the commercial, residential, and retail sectors of India in metro cities like Mumbai, Delhi, National Capital Region, Bangalore and Chennai.
A trend in the real estate industry would be any pattern that is consistent and causes a noticeable change over a period of time. This change in direction will result in statistical changes. Economic changes, fluctuation in mortgage rates, speculations by consumers, or other reasons may cause the rise of new trends. The advancement in technology has brought about welcome changes for consumers looking into the real estate industry. The Internet is one such upgrade. In the recent years, a majority of real estate buyers have been reported to using the internet for information to invest into real estate development. This has been a huge advantage as buyers dont have to go through other time consuming media to acquire essential information and there are lesser chances of distortion of information which would otherwise occur if there was any human intervention.
Thus, the internet dominates other conventional media like newspapers and other sources as the consumers preferred medium of information. The National Association of Realtors (NAR) of the United States of America revealed in a study that “An overwhelming majority (87%) of recent home buyers in the US say they used the internet as an information resource during their home-buying process, and nearly one-third say they first learned about their newly purchased home from an online channel. Although the internet is the popular source of information, real estate agents, yard signs, open houses and print media (newspapers and magazines) are also consulted by buyers prior to investment. Magazines, builders, television, and billboards are presently one of the fewer used sources.
Pacifica Aurum in Chennai is one of the organizations that have greatly benefitted as a result of the internet trend. Pacifica Aurum specializes in offering villas in OMR and luxury apartments on OMR. Pacifica Aurum is a reputed real estate firm in India based in the United States of America who have been involved in the construction of residential and commercial projects in various cities across India (Ahmedabad, Vadodara, Hyderabad, and Pune) and are now launching projects in Chennai concentrating on luxury apartments on OMR (Old Mahabalipuram Road) and villas on OMR as well.