The real estate sector in India is highly fragmented with most of the real estate developers having a rural and urban presence. Most of the real estate developers have only a regional or a local presence thus creating a limitation and also there is a minimal participation from large corporations till now. Some of the major contributors in the Indian real estate and construction industry include names like Omaxe, Unitech, DLF, Ansal, Hiranandani and many more. Most of the property and real estate in India are emphasizing on quality and providing their potential buyers with additional services which mainly include health clubs, swimming pool, gymnasium, gardens in their projects. The most prominent factor in the Indian real estate market is that there is a limited ready property with good developers. The demand from the IT/ITES sector has undoubtedly altered the urban landscape in India. The booming IT sector in the country is the major driving force in the country especially for the commercial properties in India. Apart from that residential properties in India are ultimately benefited of the economic activities created by the IT/ITES sector. The real estate and property prices have not only been increasing in the metro cities but also II tier cities have come under the property radar. Due to the technological revolution in the country alongside government’s norms to allow 100% FDI in the industry has provided additional stimulus to the real estate industry. Due to this properties and real estate in India are not only attracting domestic as well as foreign investors. Some of the major property destinations which attract buyers round the year include major metro cities like Delhi, Bangalore, Mumbai, and Hyderabad. Due to the decent appreciation in the property and real estate sector buyers are also investing in two and three tier cities. Among the residential segments in India, Gurgoan has seen a fundamental change in not just its skyline but also in its fundamental urban demographics. Gurgaon has witnessed a complete face lift with the advent of Shopping Mall and the BPO culture. The outsourcing industry has also changed the face of commercial properties across India, but its greater impact has been observed on the rising disposable incomes and increased consumerism. Rental value of the properties of most of the Tier I cities is increasing at a very fast pace. Buyers have started giving a serious thought about purchasing an apartment as the installment for home loans are almost equivalent to the amount they spend on paying the rent for their home. The buzz in real estate sector however, is limited to areas such as retail, commercial and housing sectors. This growth can be endorsed to various elementary factors such as emergent economic trends and rising business needs.
Please Rate this Article 5 out of 54 out of 53 out of 52 out of 51 out of 5
Not yet Rated
