Current Scenario of the Real Estate Market in India
In India, these days residential and commercial real estate sectors are in boom. In the last fifteen years, the post liberalization of the economy, real estate business in India has been taken an upturn and now it is expected to grow from the current USD 14 billion to a USD 102 billion in the next 10 years. The growth in real estate sector can be attributed to favorable demographics, day by day increasing purchasing power, existence of customer friendly banks & housing finance companies, professionalism in real estate and favorable reforms initiated by the government to attract global investors.
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Some important characteristics of the Real Estate Market in India 1. Growing Market Demand 2. Greater Availability of Information
Growing Market Demand
Greater Availability of Information
1. Realization of large commercial projects 2. IPOs by developers 3. Gradual organization of the markets in the Tier I cities 4. 1. Emergence of transparency & liquidity 2. Entry of international real estate consultancies 3. Governing legal framework relaxed 4. Competitive pricing
Fig: - Cause-Effect scenario leading to emergence of organized real estate market in India Real estate property market in India has traditionally been unorganized and fragmented. During the recent years, there has seen a consolidation of positions in the market as builders are stretching their efficiency in order to maximize and meet the growing market demand.
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Driving Forces Here are some reasons that have led to the real estate boom in the country. 1. Booming economy; accelerated GDP to 8% p.a. 2. India’s emergence as an attractive offshoring destination and availability of pool of highly skilled technicians and engineers. 3. Entry of some professional real estate developers equipped with expertise in the real estate development. 4. Improvement in infrastructure facilities. 5. Increasing demand for quality residential real estate. 6. Rise in disposable income and growing middle class.
For More Information Contact Us:Harsh Macro Developers Ltd. Harsh Tower, Plot No.8, Near Gopalpura By-Pass, Triveni Nagar Mod, Jaipur- 302019, Rajasthan, India http://www.harshmacro.com/
Harsh Macro Developers
www.harshmacro.com
info@harshmacro.com