- Skyrocketing Property Prices
The value of properties in Ranchi has skyrocketed, with average prices reaching ₹5,965 per square foot, which is an increase of 17.19% year-on-year
- New Residential Projects
The city is seeing spouts of new residential projects like Nexus Homes, Panchratna Heritage, and Morias Symphony Condos offering different kinds of housing facilities catering to the diversified preferences of buyers.
- Affordable Housing Focus
The Jharkhand government initiated ‘Abua Awas Yojna’, where the state government would construct 8 lakh houses to be completed by 2025-26. This would also further help the affordable housing market in Ranchi.
- Sustainability and Smart Development
The concern towards sustainable construction of buildings has increased, and the builders now implement green-friendly material and energy saving designs in alignment with the idea of conservation.
- Mixed Use Developments
Mixed use developments, offering residential, commercial, and recreational spaces, are trendy and provide an entire living experience for the residents and also help in urbanization of the city.
All of these trends suggest that the real estate market of Ranchi is relatively dynamic and changeable. These include increased prices, new residential projects, government housing schemes, sustainable practices, and mixed developments.
