Other sectors in India are
growing at a rapid pace and there are many important reasons for investing this
sector. India is slowly gaining an important position in the world economy. The
country’s changing demographics, buoyant local stock markets and multinational
entrepreneurialism has created a niche in the world market.
The real estate in India is
growing in the commercial and residential front. National and international
companies are setting up offices in the country. They are developing
large-scale projects across all the major cities and urban centers of India.
International property developers arrived in the country and brought in fresh
ideas and innovative solutions. Massive projects by the real estate companies
were launched to cater to the huge demand. This in made the real estate
business in the country as one of the most lucrative career options. Slowly and
gradually, the real estate in India turned into
one of the major sectors.
The property sector of India,
both commercial and residential, attracted investments from other parts of the
world. Private equity funds, venture capital and public domestic funds are
invested in the real estate projects. For a very short time when the world was
at a recessionary phase and suffered a global melt down, the real
estate projects in India also came under its fold. Job openings related
to overseas companies were sizing down. The job market in India suffered a
setback and this in turn affected the real estate in India. All these changed
and the property market came out of it soon. It is believed that property
market has busted the hindrances and has come out of it.
All parts of the country are
witnessing rapid development, both in the commercial and residential segments.
However, the major gainers and seeking all the attention are properties in
Kolkata, Chennai and Mumbai. These metropolitan cities of India, already
developed, saw the arrival of new sectors. Opening up of new industries in
these cities increased the demand of commercial real estate. More industries
mean more employees. Population thrust in these cities increased and demand for
residential properties made developed start new projects.
The property sector in Calcutta
explored new avenues and new projects started in the suburbs as well. Chennai
and Mumbai also witnessed similar growth. Self-contained townships promoting
community living were developed in various surroundings of these old cities.
Other modern conveniences like shopping malls, health centers and educational
institutes came up. Residential projects also planned near the commercial and
office areas.
The picture of Real
Estate in India never looked bright as before. Cutthroat competition
between the property developers and investors benefited the consumer.
Innovative housing projects with a host of amenities made consumer get the very
best. The projects are competitively priced and consumers enjoy the bargaining
power. Investing in property will always be a wide decision as this is the
right time when there are many choices in the property market.
