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Mumbai-based Oberoi Realty Enters NCR Market with Strategic Land Acquisition in Gurugram

Mumbai-based real estate giant, Oberoi Realty has made a significant investment in the National Capital Region by acquiring a prime 14.81-acre land parcel in Gurugram, Haryana. The buyout worth Rs 597 crore is one of the largest for the company outside its core Mumbai market. CRE Matrix accessed documents confirming this strategic move.

The recently purchased property is located in Gurugram’s Sector 58, a prime area next to the Southern Peripheral Road (SPR). Oberoi Realty’s planned luxury group housing project is well-suited for this neighborhood, recognized for its high-end residential developments. With an estimated 2.6 million square feet of development potential, the area is ideal for a large-scale residential complex.

According to the documents, Oberoi Realty paid a stamp duty of Rs 33.77 crore. Although the land acquisition took place in November 2023, the official sale deed was executed on May 7, 2024. The land was purchased from a consortium that included Delhi NCR-based developer Ireo Residences.

The landmark agreement highlights Oberoi Realty’s determination to widen its reach and shows how Gurugram is increasingly becoming a thriving destination for real estate. Luxury residential developments are ideal for this area due to its proximity to major business centers and well-developed infrastructure. This entry into the NCR market will enable Oberoi Realty to take advantage of these opportunities and provide upscale residential solutions to clients.

Recent Land Transactions in Gurugram

Gurugram’s advantageous location and excellent infrastructure have drawn large investments from prominent real estate developers. Over the past few years, the city has seen a substantial increase in land transactions. In a recent transaction in May 2024, Dvok Buildcon, a Gurugram-based real estate developer purchased an 18-acre plot of land in Gurugram, valued at Rs 310 Cr. 

In another significant deal, Chintels India transferred ownership of two land parcels in Dwarka Expressway valued at Rs 121.82 crore and covering a total area of 7.85 acres to Sobha Ltd in Gurugram.  
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Commercial Realty Owned by Single Entity in Demand

Commercial Realty Owned by Single Entity in Demand

Experts believe that single-owned and managed buildings in India’s commercial real estate market offer higher returns, more operational efficiency, and greater appeal. Therefore, investors are choosing them over strata-owned assets.

One important metric that unequivocally demonstrates that single-owned commercial properties are outperforming their strata counterparts with many owners and operators is the rental returns for commercial assets across significant real estate markets.

According to data from CRE Matrix, commercial realty owned by a single entity is in high demand, particularly in key regions such as Mumbai, Bengaluru, Pune, Gurugram, and Chennai. For instance, in Pune’s South West region, single-owned properties exhibited an 18% higher rental yield compared to strata properties. Similarly, in Chennai’s Southern Suburbs II, the rental yield difference reached 32%.

Vinod Rohira, MD & CEO of commercial real estate at K Raheja Corp, emphasized that Grade A commercial assets benefit from proactive management, attracting top tenants. He noted that single-owned assets, unlike strata buildings, ensure reliability in services and utilities, crucial for business operations and talent retention. Tenants, he claims, are prepared to pay more for superior office assets—a feat only accomplished by asset managers who are sole proprietors. 

Operational efficiency is a crucial benefit of single-owned properties. Centralized management, made possible by single ownership, promotes quicker decision-making and more efficient property upkeep.

“Single-owned buildings are relatively younger in age as institutional investment in real estate started around 20 years ago. At a pan-India level, single-owned buildings are 20% younger than strata-owned buildings, and this difference gets even bigger when we see those micro-markets where the delta in rentals is even higher,” said Abhishek Kiran Gupta, CEO and cofounder,  CRE Matrix.

He claims that because a developer builds and maintains a single-owned building to ensure its longevity and secure a continuous stream of income, the building’s overall quality is better recognized than that of a strata-owned structure. On the other hand, because of the numerous owners, strata properties frequently experience management difficulties causing delays in maintenance and decision-making.

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Why Is Oberoi Realty’s Three Sixty West Project in Mumbai Experiencing a Surge in Demand for Luxury Apartments?

Oberoi 360 west

Oberoi Realty’s luxury project Three Sixty West located in Mumbai’s plush Worli area has witnessed 19 transactions since April 2024 worth over ₹1,300 crore according to documents accessed by CRE Matrix. The project has garnered interest from well-known personalities including Shahid Kapoor and Abhishek Bachchan, D’Mart’s Radhakrishna Damani, Everest Masala Group’s promoter, and Vratika Gupta, founder of a well-known decor brand. 

The luxury residential units included in these transactions range from 5,600 square feet to nearly 17,000 square feet. 16 of the 19 transactions that have occurred since April 2023 have been in the primary (direct) market and have involved the developer Oberoi Realty, its partners, and the buyers. According to documents accessed, Oberoi Realty sold seven of the 16 apartments involved in these deals and its partner sold the remaining apartments.

Three Sixty West’s exceptional seaside location, which offers breathtaking views and luxurious living areas, is one of its key attractions. To suit the interests of affluent customers, the project consists of two towers with 4 BHK and 5 BHK flats in addition to duplex apartments and penthouses. The project obtained its certificate of occupation in 2022. 

The 360 meter tall sea-view project takes its name, most likely, from the fact that every apartment faces west. The Three Sixty West project, according to the MahaRERA portal, is registered under the name Oasis Realty as the promoter. It has four promoters: Vikas Oberoi-sponsored companies Oberoi Constructions Ltd and Astir Realty LLP; SkyLark Buildcon Pvt Ltd; and Shree Vrunda Enterprises, which is a part of Sudhakar Shetty’s Sahana Group.

With developers charging approximately ₹1 lakh per square foot for sea-view units in the Worli neighborhood, Three Sixty West is competitive in the luxury condo market. Local brokers claim that these apartments’ primary market values range from ₹1.25 lakh to ₹1.50 lakh per square foot. The project’s upscale facilities and prime location, in addition to its affordability, have created a strong demand.

The property has also become more appealing as a result of Radhakishan Damani and his associates’ bulk acquisition of 28 flats in February 2023 for ₹1,238 crore. Some of these apartments have already started to sell for about ₹1 lakh per square foot on the resale market. More of these entering the market could result in competitive pricing and more room for buyer negotiation.

Despite the constantly high sales at Oberoi Three Sixty West, real estate experts think the availability and cost of resale apartments will determine the direction of the market going forward. The reinstatement of 28 units from the bulk deal may affect the dynamics of the primary and secondary markets, giving buyers additional choices and pricing points.

The project’s ability to draw in buyers will be largely dependent on how the market develops over the next several months.

Recent Transactions
Oberoi Realty’s Three Sixty West is highly sought after for its prime location and luxury features. In a recent transaction, fashion designer and the creator of the upscale home décor brand Maison Sia, Vratika Gupta, purchased a luxury apartment in Three Sixty West for Rs 116.42 crore. Also, Bollywood actor Shahid Kapoor and wife Mira Kapoor purchased a luxury sea-view apartment in the Three Sixty West for around 60 crore.

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Lenskart’s Peyush Bansal and Dhanuka Family Members Acquire Luxury Apartments in Gurugram’s DLF The Camellias

Camellias_DLF

Prominent industry players including Peyush Bansal, the founder of Lenskart, and the Dhanuka family from Dhanuka Agritech, have made notable acquisitions in DLF’s luxurious residential project The Camellias in Gurugram. According to the documents accessed by CRE Matrix, these sumptuous properties were booked between 2015 and 2022, with conveyance deeds executed in April 2024. The cumulative value of these properties amounts to Rs 106.4 crore. 

The founder of Lenskart, Peyush Bansal purchased a 7,461-sq. ft apartment in August 2022 for Rs 27.02 crore. This apartment comes with four parking slots. On April 29, 2024, the conveyance deed for this deal was completed, and Bansal paid a stamp duty of Rs 1.89 crore.

On June 24, 2019, Ram Gopal Agarwal, the group chairman of Dhanuka Agritech Limited, and his wife Urmila Dhanuka signed a contract with DLF to buy a 7,361-sq. ft apartment at The Camellias. The final payment was made in March 2021, after he paid Rs 22.55 crore for the property. On April 26, 2024, the property’s conveyance deed was signed and a stamp duty of Rs 1.35 crore was paid.

Between June and August 2015, Rahul Dhanuka, Joint Managing Director at Dhanuka Agritech, paid Rs 24.31 crore for a 7,361-square-foot apartment. On April 18, 2024, the conveyance deed was completed and Rs 1.70 crore in stamp duty was paid. There are four parking spaces on this property as well.

Harsh Dhanuka, Executive Director of Alliances & Supply Chain at Dhanuka Agritech, paid Rs 32.52 crore for a 9,419-square-foot apartment with five parking spaces. The conveyance deed for his property was executed on April 23, 2024, and he paid a stamp duty of Rs 2.27 crore.

These properties were purchased directly from the developer of The Camellias. During the time these deals were closed, The Camellias’ prices ranged from Rs 30,634 to Rs 37,000 per square foot. However, These apartments currently go for about ₹75,000 per square foot on the market. The lowest apartment at Camellias is available for ₹11 lahks per month for an unfurnished unit and ₹14 lahks for a furnished one.

Recent Transactions

The high-end transactions indicate Gurugram’s growing appeal among affluent buyers. The sharp increase in property values highlights the demand for luxury homes. In a recent transaction, MakeMyTrip’s Deep Kalra, Den Network’s Sameer Manchanda, and Assago’s Ashish Gurnani bought apartments at Gurgaon’s The Camellias for a cumulative total of Rs 127.58 crore. 

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L&T Realty Signs Agreement for Joint Development of 12.2-Acre Land Parcel in Thane, Potentially Worth ₹697 Crore

L&T Buy Land Parcel in Thane

L&T Realty has signed a significant joint development agreement (JDA) that involves the rehabilitation of a 12.2-acre land parcel in Thane’s Panchpakhadi locality. According to the documents accessed by CRE Matrix, L&T Parel Project Pvt Ltd, a subsidiary of L&T Realty, and Jagdale Infrastructure Pvt Ltd have entered into a strategic partnership, which was formally announced on May 7, 2024. In addition to a registration fee of ₹30,000, the agreement stipulates a significant stamp duty payment of ₹34.88 crore.

The Maharashtra Slum Area (Improvement, Clearance & Development) Act, 1971 declared the land parcel, which was initially owned by the Maharashtra government, as a slum rehabilitation area in October 2016. The developers have committed to building at least a minimum of 12.7 lakh square feet for the rehabilitation of the slum dwellers. Additionally, under the sale component, a 31.25 lakh sq ft will be constructed to ensure the project’s financial viability according to the documents accessed. 

The project is located near the Mulund Toll Naka, a vital intersection that divides Thane and Mumbai. It enjoys seamless connectivity with easy access to the Eastern Express Highway and the Thane Railway Station. With well-known industry players like Oberoi, Raymond Realty, Rustomjee, and Hiranandani, the Thane real estate market is already booming and shows promise for growth The cost of residential real estate in Thane varies from ₹10,000 to ₹25,000 per square foot, depending on the neighborhood.

With developments in areas like Parel, Sewri, and Mahim, L&T Realty is a major player in the Mumbai real estate market. This new venture in Thane fits right in with what they already have, making them even more of a presence in the area. L&T Realty will be the lead developer and will receive a 69% profit share on the project, which is expected to be close to ₹698 crore. The remaining 31% will go to Jagdale Infrastructure, which equals a profit of almost ₹303 crore. Over 20 slum pockets will be redeveloped as part of the project within five years. L&T Realty will handle the design, development, construction, completion, marketing, branding, and sale of the project’s free-sale component. 

This collaborative development represents a major expansion for L&T Realty and demonstrates its dedication to creative and socially conscious real estate development. The project reflects the potential and dynamic growth of the Thane real estate market by offering high-quality residential options in addition to improving urban infrastructure.

Recent Transactions

The Mumbai real estate market is changing as a result of large-scale initiatives and joint ventures. Notable construction projects accentuate the region’s quick growth and entice builders and financiers to this prosperous suburban community.  

In a recent land deal, DMart acquired a plot of land in Chandivali for Rs. 117 crore. In another major land deal, Hindustan Construction Company (HCC) sold a 2.35 lakh sq mtr land block in Panvel near Mumbai to Oak & Stone Construction Pvt Ltd for Rs 95 crore.

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Dvok Buildcon Acquires 18-acre Land in Gurugram for Rs. 310 Crore

Dvok Buy Land in Gurugram

Dvok Buildcon, a Gurugram-based real estate developer purchased an 18-acre plot of land in Gurugram, valued at Rs 310 Crore as revealed by documents accessed by CRE Matrix. With this strategic investment, the business marks its expansion into one of India’s most lucrative real estate industries. Gurugram is famous for its rapid urbanization and great infrastructure. The region has immense potential for the growth of residential homes as well as commercial projects. 

The newly acquired land is an agricultural plot situated near Manesar, a prime location, enhancing its value and attractiveness for future developments. Dvok paid Rs 21.72 crore as stamp duty, according to the documents. This prime location gives a myriad of developments that Dvok Buildcon can venture into, be it residential or commercial. Real estate in the area is rife and a sure method of obtaining a good return on investment, as the demand for quality living and working space continues to rise.

Despite record-high residential demand, renowned developers, along with other entities, continue to acquire land across India. Besides residential projects, sectors like commercial, retail, industrial, and warehousing are driving prime land deals. In 2022–23, 88 land deals covering 1,886 acres were completed across various cities. This increased to 2,989 acres in 2023–24. The residential segment remains the primary driver of the Indian real estate market. Among the top seven cities, NCR led with 29 deals for 313 acres, followed by MMR with 19 deals for 157 acres, and Bengaluru with 14 deals for 490 acres.

Gurugram’s vibrant lifestyle, contemporary amenities, and seamless connectivity make it a popular choice for families and professionals. By providing luxurious housing solutions that satisfy aspirational aspirations, Dvok Buildcon may take advantage of this demand. Also, there are plenty of chances for commercial development in Gurugram because of its reputation as a major business hub home to various global corporations and commercial complexes. Strategically located modern office spaces would draw in firms and provide strong rental yields and long-term profitability. 

Recent Transactions

In the last few months, significant real estate transactions have been completed in Gurugram. The increased activity indicates investors’ faith in the market’s growth potential and long-term profitability. In a recent transaction, Chintels India transferred ownership of two land parcels in Dwarka Expressway valued at Rs 121.82 crore and covering a total area of 7.85 acres to Sobha Ltd in Gurugram. 

In another transaction, Virat Kohli leased out 12 office spaces in Gurugram for an annual rent of Rs 1.27 crore. 
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D Mart Buys Land in Chandivali for Rs 117 Crore

D'Mart andheri East

The parent company of the well-known DMart supermarket chain, Avenue Supermarts has acquired a plot of land in Chandivali, Andheri East, Mumbai, as part of its ongoing strategic expansion. The recent purchase of the 52,765 square feet property for ₹117 crore highlights the company’s dedication to strengthening its presence in the market. According to documents accessed by CRE Matrix, the deal was finalized on May 6, 2024, and Avenue Supermarts Ltd paid ₹7.03 crore in stamp duty for the transaction.

At the moment, this property is home to an industrial ground-plus-one building. It is located in an industrial zone, and the company plans to turn it into a retail center or a commercial structure. The acquisition increases Avenue Supermart’s already remarkable stockpile which consists of a wide range of properties across Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhatisgarh, National Capital Region, Tamil Nadu, Punjab, and Rajasthan. Radhakishan Damani founded Avenue Supermart Ltd’s major brand DMart and began its operations in 2002. From just one store located in Powai, Mumbai, DMart has over 333 stores across different locations. 

Avenue Supermart Ltd’s recent acquisition perpetuates its strategic property investment trend. September 2023 marked the purchase of three levels of retail space within a 31-storey residential building in Kandivali West for ₹88.74 crore. These ventures indicate the company’s intent to diversify its retail offerings and address the evolving needs of consumers.

DMart has witnessed rapid growth with two new stores opening on average each month. It announced in July 2023 that stores would be opened in Jodhpur, Rajasthan, and Akola, Maharashtra. In August 2023, it inaugurated retail locations in Ahmedabad and Morbi, Gujarat, as per its regulatory disclosures on stock markets.

This planned expansion follows a string of real estate purchases by Avenue Supermarts Ltd. totaling ₹400 crores amid the COVID-19 pandemic in 2021. These investments show how resilient and strategically astute the business is in managing difficult market situations. Additionally, family members and colleagues of D’Mart founder Radhakrishna Damani purchased up to 28 home units worth ₹1,238 crore in Mumbai in February 2023, in what may be the largest real estate transaction in the nation. The agreement was reached not too long after the Budget 2023 plans were made, which capped capital gains from the sale of long-term assets, such as real estate, at ₹10 crore.

The company’s plan, for growth is in line with its goal of offering customers access to high-quality products at prices. Avenue Supermarts Ltd is strengthening its market position and promoting long-term success by adding outlets and diversifying its retail offerings.

Recent Transactions

In a recent transaction, Bank of America Leases Two Commercial Units in Malad at a monthly rent of ₹91.5 Lakh

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TCG Real Estate Successfully Secures Significant Funding of ₹714 Crore from SBI for Its World Trade Center Project

Sbi funded world trade center

In a significant real estate development in Gurugram, TCG Real Estate, a leading industry player, has secured funding of a whopping ₹714 crore from the State Bank of India for its ambitious World Trade Centre project. This is an important milestone that the project has achieved and is surely reflective of the trust that the financial institution, SBI has in TCG’s competence and potential. 

According to the documents accessed by CRE Matrix, Energetic Construction Pvt. Ltd, a subsidiary of TCG Urban Infrastructure Holding Pvt Ltd, is behind the project. The Gurugram Project is set to be an eye-opener to the region’s commercial arena. The project’s leasable space is approximately 1 mn sq ft. This suggests that the project is poised to revolutionize the commercial landscape in Gurugram, particularly in the realms of office spaces and retail.

Furthermore, the documents reveal that the deal had detailed dynamics around the funding. It was funded via a 72-month loan at an annual interest rate of 9.6 percent. Energetic Construction Private Limited negotiated an amicable funding provision with SBI to meet its capital needs. The deed of hypothecation was registered on March 28, 2024. This was executed between Energetic Construction Private Limited in favor of SBICAP Trustee Company.

The scale and scope of the project are impressive, with four towers set to be constructed over an area of 7.94 acres. Two office towers covering over 9.4 lakhs square feet, and two retail towers covering an area of 72,407 square feet, highlight the project’s magnificence. Located advantageously off NH8 on Sohna Road, the project has excellent accessibility and visibility, attracting interested tenants and investors. The estimated project expenditure amounts to ₹ 1211.86 crore out of which ₹ the promoter has invested ₹ 497 crore. The funding secured from SBI represents a significant portion of the financial requirements and is indicative of the faith the bank has in the project’s potential and TCG’s history of completing profitable real estate projects.

In October 2027, commercial operations are anticipated to begin. According to the documents, the project’s building phase will take 48 months and there will be an additional 12 months of grace period. A penalty interest of 2% will be charged per annum on delayed payments that exceed 60 days from their due date. If the delay extends beyond 60 days, a higher penal interest rate of 5% will be applied to the outstanding amount for the duration of the delay, as specified in the loan documents.

TCG’s long-term vision for the Gurugram undertaking aligns with the evolving dynamics of the real estate market, which increasingly favors combined-use developments integrating workplace and retail spaces. By leveraging its understanding and assets, TCG aims to create a vibrant environment that fosters collaboration, innovation, and an economic boom.

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MakeMyTrip’s Deep Kalra, Den Network’s Sameer Manchanda and Assago’s Ashish Gurnani now own apartments at Gurgaon’s The Camellias by DLF

Camellias_DLF

Located in the center of Gurugram’s luxury real estate landscape, The Camellias stands as a symbol of luxury and magnificence. The recent discoveries reveal the valued purchases that have been made inside this luxury apartment while industry giants secure their position in the sought-after area. 

According to data accessed by CRE Matrix, conveyance deeds signed in March 2024 signify the recent completion of a wide range of high-value acquisitions. These acquisitions took place between 2017 and 2023. Some of these buyers include MakeMyTrip founder Deep Kalra, Den Networks’ Sameer Manchanda, and the family members of former MD of Tech Mahindra, CP Gurnani. According to documents, they acquired these upscale luxury apartments directly from the builder at The Camellias. 

The charm of The Camellias beckons in—drawing these big names to invest a cumulative total of Rs 127.58 crore into the luxurious embrace. Whether expansive 7,430 sq ft or lavish 10,813 sq ft residences, these deals go well beyond transactions and stand as crests of status and prestige.

MakeMyTrip founder Deep Kalra and his wife Amrita Kalra secured their share of indulgence with a 7,430 sq. ft apartment for Rs 46.25 crore. They booked the apartment on June 15, 2023, and made the final payment on December 16, 2023, acquiring the flat with four car parking slots. The property’s conveyance deed was formalized on March 4, 2024, with Kalra paying a stamp duty of Rs 2.77 crore.

Manchanda of Den Networks and his wife Kavita Manchanda signed a deal with DLF on December 16, 2019, to purchase a 10,813 sq. ft apartment at The Camellias. The Manchandas paid a total of Rs 37.83 crore for the property, with the last payment being made in 2021. Following this, on March 19, 2024, the property’s transfer deed was officially registered, and a sum of Rs 2.27 crore in stamp duty was paid.

Ashish Gurnani, the founder of Assago Group and son of Gurnani, paid Rs 21.75 crore between December 2017 and May 2020 for a 7,430 sq. ft apartment in The Camellias. On March 13, 2024, the conveyance deed was signed, and a stamp duty payment of Rs 1.3 crore was made. The apartment includes four parking slots for cars.

Gurnani’s daughter Sanya Gurnani and wife Anita Gurnani purchased a 7,430 sq. ft apartment at The Camellias, which also includes four parking slots, for Rs 21.75 crore. On March 13, 2024, the Gurnani family paid stamp duty totaling Rs 1.08 crore to formalize the conveyance document for the property.

The market value of the properties now stands at the epitome of luxury living, ranging from Rs 29,300 to Rs 62,247.6 per sq ft during acquisition. Today, The Camellias, with an average base selling price of Rs 65,000 to over Rs 85,000 per sq ft, assures its position as one of the prime addresses in the National Capital Region.

Beyond the marble-white interiors and the panoramic views, The Camellias is a lifestyle played out by the few. The Camellias offer an unmatched level of sophistication and comfort with rentals starting from Rs 10.5 lakh for unfurnished apartments to Rs 14 lakh for furnished apartments.

The latest acquisition by Smiti Agarwal, director at Wesbok Lifestyle and wife of V Bazaar CMD Hemant Agarwal only endorses The Camellias’ reputation for magnificence. Agarwal’s January 2024 purchase of an apartment for Rs 95 crore indicates the allure and investment potential of this exclusive luxury apartment.

In October 2023, an 11,000 sq. ft apartment at The Camellias was sold in a resale transaction for approximately Rs 114 crore. With more industry biggies and entrepreneurs having bought or signed their properties at this fortress of luxury, The Camellias is more than just a home to live in—it is a mark of success, sophistication, and the ultimate indulgence in high-class living.

Recent Transactions
In a recent transaction, Virat Kohli leased out 12 office spaces in Gurugram for an annual rent of 1.27 crore.

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Role of Data Analytics in Real Estate India

Real Estate Data Analytics

Data analysis is the process of cleaning, transforming, and evaluating raw data to produce practical, relevant data that helps businesses make informed decisions. The procedure reduces decision-making risks by providing insightful findings and statistics, which are frequently presented in visuals, diagrams, tables, and infographics.

Data Analysis Techniques

To understand raw data, it must be analyzed. We must employ various strategies depending on the type of data obtained, so it is critical to specify the approach before implementing it.

Qualitative data:

Researchers collect qualitative data by observing underlying sentiments, gestures, and expressions. It is based on understanding the information contained in spoken responses. The most common methods of gathering such information are open-ended interviews, focus groups, and observation groups, where analysts frequently assess trends in sightings during the data-gathering phase. It can be used to gain comprehensive insights into a subject or to generate new ideas for exploration. Qualitative research is widely used in the humanities and social sciences, including anthropology, sociology, education, health sciences, and history.

Quantitative data:

Quantitative data analysis is a technique for analyzing numerical data or data that can be easily converted into statistics. It focuses on statistically and numerically characterizing and evaluating objects in order to assess data gathered using numerical factors and statistics. Quantitative data analysis strategies frequently use algorithms, quantitative analytical tools, and technology to extract insights from data, addressing questions like quantity and frequency. Data for quantitative data research is typically gathered through channels such as surveys, questionnaires, votes, etc. Data sources include sales figures, email click-through rates, the number of website visitors, and percentage revenue increase. 

Data Analytics in real estate

Real estate data analytics enables real estate professionals to make statistically sound decisions about the sale, purchase, leasing, or management of tangible property. The process entails gathering and analyzing all relevant information from various sources in order to provide actionable insights. Brokers, financiers, builders, stakeholders, and other real estate experts use real estate data analysis to predict the financial viability of an investment, determine the best time to buy or sell, identify suitable renters, successfully negotiate, and optimize promotional efforts. Real estate professionals can be held accountable for a growing number of factors, including the number of people who visit an estate on a daily basis and the stores they frequent. The following are some of the ways that data analytics can be proven useful to real estate

Prediction of property prices:

Pricing remains the most important factor in the real estate sector. It is possible to predict whether a property will be a good investment based on its current or projected future price. With the implementation of data analytics, designs can be built using machine learning (ML) algorithms to assess the value of an asset based on past relevant data such as the asset’s age, accessibility, and condition, and may deliver an appraisal in a matter of moments for holistic evaluation.

Improving the consumer decision-making process:

Aside from determining the value of a property, analytics and artificial intelligence can help identify suitable buyers who are likely to be interested in it based on their needs, financial situation, geography, and so on. Buyers’ information can be used to recommend properties that best meet their criteria, and real estate companies can use it to gather information about the customers who best match their services, allowing them to devote adequate time and resources to those who are most likely to buy.

In examining and closely monitoring market trends:

To run a real estate business, you must be well-versed in all of the factors that influence the value of a property. Given the expanding elements, it is critical to track trends and understand what other businesses are doing. A variety of new data factors, such as accessibility to public transportation, population trends, connectivity to shopping centers, and so on, are also having an impact on real estate prices. Data analytics is critical for analyzing and tracking market trends, as well as interpreting the effects of various factors on real estate costs.

Increase profitability and reduce development costs:

Real estate businesses use their funds for two main purposes: land acquisition and development. Data analytics provides knowledge of the property’s value, ensuring that consumers buy it at the best price. Development expenditures can also be controlled by analyzing past statistics to determine the number of unprocessed materials required to build any structure in order to reduce waste and achieve the lowest possible development cost. Furthermore, using data analysis, real estate firms can estimate the asset’s price and sell below that prediction, ensuring increased earnings on each transaction.

The potential for the real estate industry to become completely data-driven is enormous. Data-driven real estate techniques improve day-to-day operations for any mid- to large-scale real estate firm by providing information on property valuation, stock, consumer behavior, growth trends, and expenses, as well as identifying potential clients. The data-driven real estate strategy, which aims to maximize customer satisfaction, provides two benefits: improved business capabilities and transparency into what buyers want.

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