subject: Indian Realty: Renting, a Big Hit [print this page] Indian Realty: Renting, a Big Hit Indian Realty: Renting, a Big Hit
The Indian realty sector has been the hottest investment destination from past few years given its newly realized capacity and scope for progress. Almost five years ago, infrastructure existed in metro cities only while rest of the country was deprived from development and modernization plans. But, as soon as, the need and potential for real estate expansion was determined, all other cities followed in the footsteps of metros.
The immense construction of buildings carried out in India has boosted the value of property in a big way. Both realty rates and rentals across the country have more than doubled in just couple of years. Tier-II and tier-III cities are reaping maximum benefits from these structural developments while tier-IV cities are also gaining attention. A wholesome approach seems to have been adopted for the overall growth of Indian real estate industry. Lands and plots in all small and big cities are being developed to absorb the growing need for housing and to meet the commercial demands of more commercial space for rent Bangalore, retail shops and entertainment zones.
It is interesting to note that rental deals are more found to be more preferable among both property dealers and property buyers. The growing value of rented property has gained a favorable image in the eyes of property agents who are now focusing more on leases and rents. They are now devoting themselves to rented homes negotiations more than ever as middle-class is thinking twice before buying the property. The increasing interest rates on home loans, continued fuelling up of taxes and the predicted rise in property prices are some of the factors that are planting inhibitions in the minds of buyers. They seem to be more interested in paying rents than large amounts of EMIs (Equated Monthly Installments).
One of the most prominent drivers of the direct demand for commercial spaces and an indirect one for housing is the mushrooming of IT and BPO industries. The growth in this sector has been propelling the realty market in a considerable manner. In fact, it would not be incorrect to say that technology and outsourcing companies have spelt success for real estate rental property business.
On commercial front, industrial properties are leased out for business projects and have the advantage of long term agreements or contracts. On the residential front, the professionals employed in these firms look for PG accommodation or rent flats in the area. Retail segment follows similar trends when apparel or food chains rent space in multiplexes, malls, etc. Rented properties are, therefore, a big hit in India.
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The Mainstaygroup.in is based in Bangalore, South India the heart of all software activity in the Asia-Pacific region. With a total industry experience of over a decade, the real estate industry has been our forte. One of the reasons to choose this industry is because of the vast experience of our personnel.
