In a three-part series, Square Yards covers the aspirations, desires and look out the startup generation is looking in their dream abodes.
For Shantanu Kumar, 27, the hunt for a dream house turned out to be more confusing than he thought. He worked for a startup dealing with the auto sector where his employers gave him generous ESOPs. When the venture capital moved in, the ESOPs turned to gold. The money was good so he decided to invest the money in real estate. The plan was to use it for a down payment and pay the installments through his salary. But what he did not really know was how much baffled would he be with the choices.
Meet the new startup generation. Young people working in new and growing companies, often drawing good salaries and willing to invest in a new home at a young age. They also have the risk appetite and willingness to back their investment decisions.
Location does not matter
Shantanu grew up in Orissa, completed his engineering from Hyderabad, his first job was in Gurgaon and now he is working in Pune. “A move depends on the kind of job I am being offered and the pay package of course”, says Shantanu. So unlike traditional investors who preferred to invest near their own homes, comfort zones are not a concept for the startup generation. “What matters is good connectivity, infrastructure and quality living.” says Sangeetha Reddy, who works as a human resource professional at a startup in Bangalore.
Square Yards recently conducted a survey wherein over 38% respondents showed preference towards NCR region. Robust infrastructure and ease of capital seems to have made NCR as the top investment destination for the startup community. Focus areas which are witnessing steep growth are the South of Gurgaon and Greater Noida.
Bengaluru is yet another favorite with over 29% of those who filed our surveys chose Bengaluru as their preferred property investment destination. Indeed, with low rentals, skilled labor force and presence of a large number of startups, makes it an ideal destination for those looking to be a part of the startup culture. Areas like Whitefield and Hoskote have shown strong trends for commercial and residential growth.
The other location that attracts the new age startup generation is the Mumbai Metropolitan Region. Ease of raising capital and close connection to the commercial hub of India makes MMR a top destination. Especially areas like Navi Mumbai and Thane are witnessing new property launches which are quite affordable and close to commercial hubs.
There are other locations as well which are quite significant to India’s startup story. Pune, Chennai, Hyderabad are some of them. They might not be leading the pack but are definitely catching up with the rest.
