Following the liberalization of Indian economy, the Real Estate Sector has witnessed significant growth rate in past few years. The obvious affects of liberalization can be seen as rise in business opportunities and labor migration that further resulted in high demand for commercial and residential properties, majorly in urbanized parts of the country. No wonder, just like the agricultural sector and construction industry, the Real Estate Sectors has a significant role to play in the overall growth of India and its habitants.
Majorly, the growth of Real Estate in India is directly associated with the evident improvement in sectors such as hospitality, entertainment and retail that include hotels, cinema theatres and resorts respectively. Besides, economic services including hospitals and educational institutions and Information Technology enabled services basically including BPOs, KPOs, Call Centers, etc. also have a significant part contributing to the growth of Real Estate Sector in India.
All in all, the Indian Real Estate Industry is going through a positive transformation that has provided the builders and developers with numerous investment opportunities. People who are directly or indirectly associated with the Indian Real Estate Sector are sure to get high returns in the near future since there are several favorable factors to capitalize on. Some of the major factors that have greatly influenced the Residential Real Estate Industry in India are:
- Easy accessibility of funding
- Constant growth in population
- Abundant employment opportunities in service sectors
- Influx in the number of people migrating to urban areas
- Increase in nuclear families
- Increasing income levels and purchasing power
- Feasible policies for the Non Residential Indians (NRIs) to invest in properties in India
As well, some of the major reasons for the increased demand for Commercial Real Estate can be stated as:
- Liberalized legislative framework regarding investment in Real Estate Sector
- Increase in the number of Multi National Companies
- 100 % Foreign Direct Investment
- Requirement of huge office spaces
- Well-developed infrastructural facilities resulting in the initiation of significant construction projects
Considering that the Real Estate Sector of India has emerged as one of the most flourishing segments, it is judiciously the best time for industrialists as well as common man to look out for investing opportunities.