India’s Real Estate Scenario In 2015

Daisy Ratnasari

The real estate sector has been the backbone of the Indian economy and has a key contributor in the economic growth. According to the data, the Real Estate sector contributes 8.53% of the total GDP and also witnessed a growth rate of 30%. It is also important to note that this sector has emerged as the 5th largest destination of foreign investment. According to a study by ICRA (India’s Credit Rating Agency), the realty sector today ranks third among the 14 major sectors of the economy.

Today, India’s economy is developing rapidly and this has led to migration of people from rural areas to cities. The shift from rural to urban areas is reflected in the rising expenses of the households. In order to fulfill needs of property buyers, all types of properties are available in India ranging from high cost properties to budget properties. Infrastructure, construction and property are considered as a sector, India sees tremendous growth. Popular cities like Mumbai, Bangalore, Pune, Delhi, NCR and Ahmedabad offers luxurious residential townships and well-developed commercial spaces to property buyers. Prestige Group, Manti Group, Lodha Group, Gaursons, Supertech, DLF, Godrej, Unnati Fortune Group, Sikka Group, stellar and Ace Infrastructure are some of the leading real estate players that offer all types of properties including independent houses, villas and commercial property in India.

The betterment in infrastructure and the industrial development along with several changes in the economic policies has surged the economic growth of India in turn influencing the real estate sector.

According to latest reports, real estate in India has shown movements of prices in the capital and rental values on residential projects across the major metropolitans- Delhi, Kolkata, Mumbai, Hyderabad, Bangalore, Pune and Chennai. The metros infused new hope for the real estate industry.

As the real estate market grows, property trends keep changing and so do innovative methods to keep up with these altering trends. In India, you will find different types of properties including residential properties, commercial properties and luxury townships.

To fulfill customers’ needs, many leading developers have come up with ‘theme-based projects’ ranging from cultural themes like Greek, Spanish and Mediterranean to interest-related themes like sports, Hollywood and abounding more. Some of the best examples of theme-based projects are Romano by Supertech, La Montana by Tata Housing and Lakeside Habitat by Prestige Group. Hence, not only end-users, but even low-ticket investors can reap profits from investments in India.

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