India, May 31 -- For generations, Indians viewed real estate through an emotional lens. A new generation is beginning to see it as a financial asset.

In India, property ownership has never been just about returns. It has been tied to aspirations, social status and family security. Families saved for years to buy a home, measured progress through property ownership and often built their identities around assets accumulated over decades.

A house offered emotional comfort. Land symbolised permanence. Rental income provided stability in retirement. Real estate was as much a cultural institution as it was an investment.

That relationship, however, is beginning to change.

A growing number of investors are evaluating property less as a legac...