The Real Estate in India has been on the path of growth since decades. Owing to the growing urbanization and industrialization in the country, new pastures have been discovered and worked on. The cities have been ever expanding, extending to greener surroundings. The metropolitan, the big cities, as well as smaller cities have been witnessing newer and higher skylines. Though the industry suffered a few setbacks owing to the global slowdown and real estate bubble in the developed countries, it is back on track since 2010. With growing facilities provided by banks for Home Loans, it has become quite easier now a days to get a home for oneself. With efforts by government towards providing housing for all, the sector has been on the boom since many years. With India going steadily on the road to development, the need has been ever increasing for more spaces for residential as well as commercial purposes. The cities are witnessing higher skylines and more expansion. The culture of consumerism is giving rise to establishment of more shopping and commercial complexes. The number of malls, complexes, big stores and shopping outlets has been ever increasing. With these, the number of residential complexes has also been on an increase.
The industry comprises a large chunk of India’s GDP, contributing to its growth and development. As India is growing in GDP, with larger economy, and more liberalisation since 1991, the businesses have been expanding. This has led to expansion of both residential and commercial buildings. Growth is seen in both Tier I as well as Tier II cities. Along with metropolitan cities like Mumbai, Delhi, Chennai, Kolkata, Bangalore, Hyderabad etc, the other big cities are also developing steadily, thus demanding for larger and more residential and commercial spaces. This has led to growth of Real Estate in India. Cities like Chennai, Bangalore, Hyderabad, which are IT hubs, have seen large number of construction in recent years. These are accompanied by Tier II cities like Ahmedabad, Surat, Jaipur etc, which are growing in terms of businesses, as well as higher income potentials.
All these factors have led to growth in Real Estate sector in India. The ever growing need of commercial and living space have been instrumental in the growth of this sector. The growth has also been leveraged by the easiness in getting finance for acquiring the property. With government’s initiative for housing for all, acquiring a house has become easier for even the small income group section. With these, the property industry in India is set to grow by leaps and bound in future, thus providing for better opportunities both for property developers, as well as house acquirers.
The industry comprises a large chunk of India’s GDP, contributing to its growth and development. As India is growing in GDP, with larger economy, and more liberalisation since 1991, the businesses have been expanding. This has led to expansion of both residential and commercial buildings. Growth is seen in both Tier I as well as Tier II cities. Along with metropolitan cities like Mumbai, Delhi, Chennai, Kolkata, Bangalore, Hyderabad etc, the other big cities are also developing steadily, thus demanding for larger and more residential and commercial spaces. This has led to growth of Real Estate in India. Cities like Chennai, Bangalore, Hyderabad, which are IT hubs, have seen large number of construction in recent years. These are accompanied by Tier II cities like Ahmedabad, Surat, Jaipur etc, which are growing in terms of businesses, as well as higher income potentials.
All these factors have led to growth in Real Estate sector in India. The ever growing need of commercial and living space have been instrumental in the growth of this sector. The growth has also been leveraged by the easiness in getting finance for acquiring the property. With government’s initiative for housing for all, acquiring a house has become easier for even the small income group section. With these, the property industry in India is set to grow by leaps and bound in future, thus providing for better opportunities both for property developers, as well as house acquirers.
