Why India’s Real Estate is Moving on a Growth Trajectory :
Ever growing population of large and small cities and creation of quality real estate infrastructure is contributing heavily towards the growth of India’s real estate prowess.
Owing to the fact that the Indian economy has grown at a rapid pace during the past 15 years, it has contributed heavily towards the growth of India’s real estate sector.
As per the figures from the Indian government, real estate sector contributes to a whopping 11% of the National GDP of the country. There are a number of factors that are still driving the real estate towards a growing trajectory today and an increasing population in all the metro locations of the country is one of the biggest propellers of this growth.
As a number of studies have shown, the population of a number of large cities such as Delhi, Mumbai, Bangalore, Kolkata, Chennai and Hyderabad has grown tremendously over the past decade. This means that there is a bigger market for quality real estate than ever before.
Additionally, even in smaller tier 2 or tier 3 cities there is an increased demand for affordable and yet quality residential and commercial properties. This trend has further stretched the demand for real estate in relatively smaller cities such as Pune, Lucknow, Ludhiana, Chandigarh, Ranchi, Vijaywada etc.
And in order to further reinvigorate the real estate ecosystem, Government of India has envisioned a roadmap for economic reforms to enable fast track Infrastructure development by inviting investments from domestic and international players and encouraging business-friendly atmosphere. Also on the cards is the easing out of monetary economic policies by cutting interest rates in order to make home loans available to a larger set of potential buyers and more affordable to large set of customers.
Even though the real estate is going through a rough phase, all these factors are creating an ideal atmosphere for the long term growth of real estate in a number of large and small cities of the country.
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