An emerging real estate destination,A growing population

A growing population, high purchasing power and attractive loans being offered by the banks are just some of the factors that are fuelling the growth of the real estate sector in India.
The years 2008-09 have been tough for the real estate industry with the economic recession in full swing. But 2010 seems to have started on a positive note. The economy is showing positive signs of growth which spells good times ahead for the real estate industry. The last few months have witnessed tremendous activity with top builders coming up with state of the art projects.
The return of normalcy in the real estate industry indicates the return of good times for the country as well. The Indian real estate sector, which is playing a significant role in the countrys economy, has witnessed rapid growth during the last few years. Today, the real estate sector is second only to agriculture in terms of employment generation and contributes heavily towards the gross domestic product (GDP). It has been estimated that almost five per cent of the countrys GDP is contributed to by the housing sector. In the next five years, this contribution to the GDP is expected to rise to 6 per cent.
The residential sector dominates the real estate scene in India. Nearly 80 per cent of real estate developed in India is residential space. The rest comprises of offices, shopping malls, hotels and hospitals. Apart from the huge demand, India also scores on the construction front. It has been estimated that the average profit from construction in India is 18 per cent, which is double the profitability for a construction project undertaken in the US.
A growing population, high purchasing power and attractive loans being offered by the banks are just some of the factors that are fuelling the growth of the real estate sector in India.
It is much easier to afford a house now compared to a few years ago. Today, a consumer can get attractive loans at affordable rates from banks. Further, with rise in the population in the region, the demand for residential real estate has shot up. Major cities and towns are being developed to accommodate the rising population and hence leading developers are undertaking projects to meet the increasing demand.
Further, the economy of India is also growing at a rapid pace. This has led to more work opportunities and the disposable incomes of people have also increased. This has lead to an increaseddemand for real estate. Today, people are not buying property only for residential or commercial purposes but for investment purpose as well. Even global investors are putting in large amounts of money in the region because of the high ROI.
In a bid to attract foreign investment the Government is taking various initiatives and reforms to boost up the existing infrastructure. Wider roads, better water and waste management, new bridges and flyovers, are some of the efforts being made in various parts of the country to fasten the de v e l o p m e n t process, thereby attracting global investment.
The current scenario of growing retail sector has further shot the demand of real estate, thereby raising the commercial property prices.
Changing lifestyles, increased consumerism have led to the development of numerous malls, specialty malls, multiplexes and retail showrooms. This is a common phenomena that can be seen in cities and towns in the Northern part of the country.
Courtesy:- Business Standards dt:- 27-April-2010
For more information about real estate, real estate india, Indian real estate, property, property in india, Indian property, property for rent, rented property, apartment for rent, rented apartment, flats for rent, rented flats in delhi, property for sale in delhi, apartments for sale in delhi, flats for sale in delhi homes for sale in noida, flats for sale in noida, real estate in noida, investment option in noida, real estate consultant in noida, realty firm houses in noida, residence in noida, residence in delhi, residence in gurgaon, flats for rent in gurgaon Log in to http://www.zameen-zaidad.com/
And http://www.propertycafeteria.com

Was this helpful? 0 0 Comments

You're reading An emerging real estate destination,A growing population .