The growth of the real estate industry in India has seen a tremendous change
. It has become a really profitable industry due to globalization of Indian industries. India is the second largest populated country in the world. The need for shelter for such a large population has also contributed in the expanded scope of this industry.
After the introduction of the policy of liberalization, privatization and globalization the Indian companies has made a positive impact in the global market. The top most companies of the world want to step their base in India also. The need for land to such a huge population and the industries has raised the real estate business.
According to the recent datas Indian real estate market is on the 9th position among the world real estate markets. The Indian real estate market is growing at the rate of 30% per annum constantly. The Investment and employment in the real estate business of India has gone to the next level within the last decade. The favorable policies of the government of India have also supported the real estate market in India.
The places near the metro cities are becoming the main investment points for the real estate companies of India. The introduction of special economic zones popularly known as SEZ by the government of India has also resulted in the growth of real estate market in those rural areas which were earlier unaware about it. The foreign real estate companies are very much interested in the real estate market of India because there is huge scope in Indian markets. The needs of the people have changed according to the change in culture. The malls and flat culture has taken places in the minds of Indians. The need for land for such malls and other modern commercial complex has raised the demand of big lands in metro cities as well as in rural areas.
Some of the high tech cities that have faced the fast developments in India are Gurgaon and Noida. Earlier the residents of these places were all involved in the farming and these lands were used for agro based reasons. They have established their real estate companies and have earned huge profits by selling their agricultural land. The demand of land and buildings is on continuous rise in the India so also profitability of the Indian real estates companies is on the rise. Investing in the real estate business in India is sure shot way to earn huge profit.