Feature Of Real Estate Industry In India

The real estate sector in India has now become one of the most important sectors in the recent times, thanks to the rising prices of land.
Today real estate sector has become a reckoning force in the economy of India. This sector which till few years back were unknown to most of the investors and people suddenly has become a hot topic to discuss about in a group. The evidence of popularity of real estate in India can be determined from the fact that now to buy a piece of land in the metropolitan cities like New Delhi, Mumbai, Kolkata and Chennai requires a person to shell out a huge sum of money probably in crores. Nariman point, in Mumbai is the most expensive place in India. If that is about the Mumbai, then even New Delhi is not far behind. Yes most of the real estate developers have now shifted their focus on New Delhi and to the NCR areas.

These real estate developers are now investing huge amount of money to buy the large pieces of land in New Delhi and in the National Capital Region areas like Noida, Haryana and Ghaziabad. Ghaziabad is currently ruling the list of these real estate property developers as according to a recent survey that was organised across the whole world Ghaziabad is the sixth most dynamic city to live in the entire world. This has caught the imagination of all the real estate developers and hence now they are not shying away from the idea of investing more and more capital into this potential sector.
Thus it is quite evident that not only the metropolitan cities but the areas near to them are now fast catching up with them. This is why, the real estate property owners are now making merry by investing endlessly into it. Another symbol of this real estate boom in India can be seen with the emergence of more and more shopping malls in the cities across the world. According to a report there are around 21 shopping malls in the city of Ghaziabad alone while more projects are in the pipeline. Another pure example of this is the opening of more and more private engineering and management colleges in Ghaziabad, Noida and Haryana. Most of these colleges are of real estate property owners which are why the area near the capital has now turned into an ‘EDUCATION HUB’ and there are more to follow the trend. Not only that Special Economic Zone i.e. SEZ’s are now the hot favourite option among these real estate developers. But it is still to be seen whether these SEZ’s will have a positive or negative effect in the coming years. However the recent Nandigram issue has put a big question mark on the development of real estate in India. But still then real estate property sector continues to be a hot proposition for the new and budding investors who are looking forward to earn huge returns on their investment.
Thus it is quite obvious why more and more investors are willing to invest in the sector of real estate property in India. But due to this tremendous rise in the field of real estate it also has drawn some unwanted attention of the land mafia and the encroachers. Yes its true since nowadays law bodies have adopted a more stringent approach towards these people, therefore these people are now looking for new alternatives to raise capital to finance their dangerous motives and plans, which is why government has now made the laws stricter for the investors of real estate in India. But even then there is a lot of thing that needs to be done in this direction.
Overall real estate property owners are now playing an important role in the sector of real estate in India.

One Comment

  1. Posted August 4, 2008 at 2:56 am | Permalink

    The present time is not ideal for the realty market. The decelerated pace has affected the sector. The leading banks have increased the interest rates of home loans and the inflation level is also rising. Therefore, putting together, the probable property buyers are feeling dejected. But perhaps there may be a silver lining. The prospective buyers are delaying their home-buying decision to buy properties because of a widespread conjecture of probable price reduction in times to come. How long one should wait and watch is however not known. Anuj Puri, the chairman and country head of the operations of the international real estate consultancy Jones Lang LaSalle Meghraj (JLLM) in India, says that the correction will take 4 to 6 months depending on the local trend of the market and the holding power of the developers operating in that location. JLLM also makes a forecast of 5 to 15% probable price reduction in different hyped micro markets of Pune, Bangalore, Gurgaon, Noida, and other such locations. The real estate India appears to be going through a rocky period. The real estate markets of South Mumbai, several other places in Mumbai suburbs, and some locations in New Delhi may experience a price reduction of even up to 10%. These areas already have seen unreasonable price trends. As per Mr. Puri, the problems for the developers to finish the existing projects as well as initiate new projects will escalate which will result in reduced incoming supply. This will also increase the consumption time needed for the existing supplies. The prospective buyer of India property will reschedule the decision of purchasing property because of his or her limited disposable income. Sonepat and Ghaziabad property market however has been quite stable and has attracted a lot of investors.For more view- realtydigest.blogspot.com

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