Monday, 14 September 2015
Real Estate in India is Going to Scout Growth in Coming Years
Mumbai is considered to be one of the most eminent commercial hubs in the Asian continent. Every other day, it attracts the attention of teeming people flocking to the city every other corner of the nation as well as globe; it is microcosm of the entire India quite literally!As such, it is also one of the most prominent city with high value and regard for real estate- a much sought after investment option in the busy city.
But the growing interest in real estate is not only restricted to the city of Mumbai alone. All across India, real estate is witnessing an exponential boom. Attribute the growth to the few found status of India in the world arena as a burgeoning economy or the growing income power of its predominant middle- class society; the real estate boom is not a myth anymore! It is hard to compare this situation to a time in the history of the country when it was truly tough and almost hazardous to own land/ property by someone if they did not belong to the affluent class in society and did not have a social standing in the society.
Today’s lot has disposable income to spare as well as the zeal to invest in fixed asset. There is also no societal hierarchy holding anyone back. Plus, easy payment options plus loans and down payment trends have made it quite possible for anyone and everyone to buy a land or build a home for themselves. Banks are there to help out with financing and there are property agents to guide one, in case there is cause for concern.
Some of the other real estate hubs across the country are tech hub Bengaluru, political capital of the nation- Delhi, Kolkata and Pune amongst others. Growing business as well as progress of the economy has ensured that there is a sustained demand for properties of all forms across the nation.
Another of the major reasons is that the present generation do not only get tied down by their roots. The job scenario is such that they have to keep on shifting their bases, cities, states and at times, countries in search of greener pastures when it comes to their vocational opportunities- in which cases, rental or leased properties are in huge demand!This makes it all the work a viable reason to work things out in favour of the real estate sector.
More so, there is an increasing demand for high class, luxury living in India which has also boosted the need for premium building projects across the tier I and II cities of the nation.
As per estimates, the real estate investments in India have peaked at a whopping USD$ 5 billion recently, which goes on to show the huge potential of the sector in the country. It is expected that the volume of construction will increase by 20 percent over the course of the next two years till 2017. All these prove that what an important juncture the sector is in presently.