What are the factors that are creating opportunities in Indian residential building segment? here are a few….
With the scarcity of non-agricultural land in bigger cities, the buildings are becoming taller making the construction much more sophisticated. This is resulting in influx of new processes, systems, designs, firms and materials as per the global standards. Construction equipment leasing/hiring market is seeing a strong growth as a result, whereby the perused equipments are also brought into the country and then leased further. Quite a few firms have started this business aggressively.
The price of housing has gone up with builders providing many services to differentiate their offerings – which could include inbuilt modular kitchen, all hardware, woodwork, gym, club houses, sports arenas, security systems, solar power and recycle ability of water. Concepts such as fire proof doors, sound proof windows, stain & graffiti resistant paints, UV & crack resistant paints are gaining foothold gradually. The hardware segment is already seeing a large influx of designs and features transform it.
India being a tropical country, has a lot of sunshine for most part of the year. With the temperatures being high (mid 40’s in summer), there is a need to tap the sunlight, but at the same time cut the heat. The need for guarding against insect entry into the house is also high. So companies who have an offering for insulation of roofs and walls to cut the heat, insect control, smart awnings & designs and solar products can look forward to a good business opportunity.
With the energy deficit in country close to 10%, population in general is becoming more conscious of energy management. They prefer more natural light to light the offices, residences in addition to using energy more efficiently.
Some of the relevant growth opportunities are: solar lighting systems, energy efficient mechanical & electrical equipment, solid waste management, waste segregation systems, Eco friendly infrastructure & facilities, Eco-friendly construction, odorless paints and rain water harvesting technologies.
The connectedness to global markets is changing the lifestyle of Indian population. They travel out outside India much more and are inspired by those ideas. Moreover the plethora of global brands is increasing the quality consciousness in the populace as well. The Architects, developers and designers too are drawing inspiration from global designs and materials and doing their bit to enrich the specifications in India. Buildings are seeing more building management systems & smart home solutions (sensors, controls, security).
Whatever be the level of Automation, Indians feel more comfortable with human resources around. With the huge rise in residential projects, there is a huge demand supply gap for well trained & equipped security and facility management agencies. This implies a strong demand for good Facility Management & Manpower Training Firms.
This post is a part of our business opportunities in India series…. have a look at the opportunities in other industries as well under this category
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