subject: The Current Scenario Of The Residential Properties Sector In India [print this page] Acquiring a dream home is the ultimate satisfaction for all of us. In the present times, with a large number of Real Estate Companies offering a wide range of Residential Properties, the acquiring of the dream home does not appear to be that big or tough a task. With flats ranging from 1BHK to 5BHK, meaning Bedroom Hall Kitchen, people can get a home of their choice at the location they wish for. The investment in the homes seems quite simple these days courtesy the home loans and whether the people wish for a flat, villa or a bungalow, the Real Estate Companies have it all.
The sudden surge in the Real Estate became even more pronounced after the liberalization of 1991 with the relaxation of the governmental control over various sectors. Some of the factors that have contributed to the growth of the Real Estate Sector, particularly in the domain of Residential Properties, are as follows:
Coming back to the liberalization concept, the industrial sector progressed rapidly after 1991. This created a favorable situation for the foreign companies to come to India and set up a base here. This created the need for the new Residential Properties.
Emergence of India as a hotspot in the IT sector as well as a safe place for investment has attracted various companies and has also brought about a boom in the Real Estate Sector.
The migration of the people from the rural parts of the country to the urban cities has also played its part in the ever-growing need for the Residential Properties.
The trend of the return of the NRI section and their subsequent investment in the Residential Properties is also a notable contributor in the growth of the Real Estate Sector.
The Indian states experiencing the Real Estate Boom are Punjab, Gujarat, Tamil Nadu and Karnataka due to their excellent infrastructural facilities and cities like Gurgaon, Faridabad and Noida in the NCR Region are the major power centers in the Real Estate Sector. Flowing investments and growth of Gujarat and the IT Boom in the southern states of the country have ensured that the Real Estate Sector is slated to grow and prosper and the trend is here to stay.
