Real Estate in India
Due to a thriving economy and handsome GDP growth, the Indian real estate industry continues to expand with each passing day. There are numerous factors that have given momentum to this industrial growth. Major factors include well disposed demographics, escalating purchasing power, easy availability of finance and the supporting measures taken by the government. In addition, the professionalism in the real estate industry of India has also immensely contributed towards making it one of the fastest growing.
Over the last few years, the Indian real estate industry has also witnessed liberalization. It is due to an excellent economic performance in the industry that even overseas real estate investors are lured into investing more and more into the real estate sector. Looking at the recent industry estimates, it has come to light that the Indian real estate sector is currently growing at 33 per cent CAGR (compound annual growth rate). If this growth continues unhindered, the real estate industry in India could become a $50 billion industry in the next four years.
Whether it is the retail real estate or housing real estate, the real estate industry in India is witnessing a rapid change. Not only in metropolises of India but places located on the suburbs of these cities also provide a burgeoning market for real estate investors. There are expectations that the retail sector would fetch $23 billion by the year 2010.
An important factor that has also fuelled the growth rate of the Indian real estate industry is the middle class’ rising demand for housing. India has the distinction of being the second most populous country in the world. With the growth rate of population still rising, demands escalate for houses and extensive residential complexes. Rise in income, nuclear family structure and the availability of cheap finance are the key growth drivers in the housing real estate sector.
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