subject: Booming Real Estate Sector Of India [print this page] The growth in the real estate sector has helped to contribute greatly in the gross domestic product (GDP) of the country and is believed to be the second largest sector that has been offering employment to the residents of country. The real estate sector has offered jobs at various levels to the people from various domains. Real estate consultants and the property owners have to consider lots of things before finalizing sale and buy of any property.
Economic factors decide the decrease and increase in the rents of the property. Being the best investment options, real estate ensures possibility of capital appreciation. However, the person must decide over his financial limits and risk appetite before finalizing any amount for investments in the real estate. Speculations about the real estate are not allowed in India, hence various limitations have been posed pertaining to buy and sell property in India.
The country is rapidly developing as one of the fastest growing economies in the world, which has offered the best deals to both the seller and the buyer, thus creating a win-win situation for both. This condition is being driven by factors like economy-changing demographics, investments by various multinational companies, dynamic local stock markets and emergence of India on the global front.
Demand for both commercial and residential properties is booming in the context of Indian real estate market. This is an ideal condition for people who are looking forward to invest in the real estate, which has also given a ground for the NRI as well as foreign investors, who keep on looking for the best deals in the country and set up their strong footage.
There are a number of large as well as small scale real estate projects which are being set up in the country to cope up with the increasing demands of the property buyers from all over country. The most sought places are Delhi, Mumbai, Pune, Bangalore, Chennai, Kolkata, Indore, etc. The prices of the properties are increasing, especially in the metro cities, where there are tremendous job opportunities. The location of the property is one of the most important deciding factors about the prices. Luscious greenery, high-tech facilities, planned ambience, connectivity to main road, shopping malls and market areas also determine the prices of a property. The big real estate players of the country are concentrating a lot on developing high-end buildings that can give them the best returns.
The completion in the market is fierce and there is a cut throat competition among the companies to attract the customers and earn the best possible revenues. Consumer is also concerned about his profits and look for the best real estate deals within their budgets. Banks also offer loans at attractive rates, which can facilitate the customers to buy their favorite property.
