You don't need to be an economist to realise that real estate sector in India is witnessing resurgence. Real Estate, as a sector is also considered as a great employment generator and could play a vital role in growth of cement, steel and other connected industries. A study reveals that for every one crore (10 million) rupees of investment in housing, nearly 290 industries in the building material sector get activated beside, the core manufacturing sector constituting of cement, steel and bricks. The increasing demand for Indian real estate has not only generated employment, it has also recorded growth in steel, cement, bricks and other related industries. It is estimated that the development in Real Estate in India is increasing by as much as 30% every year. Approximately eighty percent of Indian real estate sector has been developed for residential space, and only 20% of it includes shopping malls, office complexes, hospitals and hotels.
That's not all according to the latest Real estate research, it is expected that revenue in the same sector would increase to $102 billion from $14 billion in the next decade. There has been an increase in the mass consumption pattern in India and new trends are also altering the consumption pattern of luxury goods and corporate houses due to great purchasing power of the people in the retail field of real estate.
India needs a strong infrastructure to support its development processes and perhaps investment in real estate is the best way to boost up the development. More than 50 shopping malls are going to set up at National Capital Region (NCR) alone. Other places include Mumbai, Bangalore, Chennai, Chandigarh, Ludhiana and Ahmedabad. It easily indicates the growth level of the real estate developers. Due to ever-increasing Indian population, the residential sector is also witnessing a surge in demand. As per industry reports, currently, there is a requirement of 19.4 million residential units in India which offers huge opportunities to the real estate developers in the segment. Nowadays, Indian masses too are getting more support from the financial institutions like HDFC, SBI and ICICI who are providing home loans at optimum interest rates. The Indian real estate is maturing day by day and it can be reflected from the fact that big real estate developers like DLF, Ansals, Parsvnath and Omaxe are coming up with their Initial Public Offering (IPO).
The foreign real estate developers like Signature from Dubai, Ayala from Philippines and many more from Malaysia and other parts of world are also planning to invest in India.
0 comments:
Post a Comment