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Published Mon, Jan 25th 2010

Indian Real Estate

The unstructured real estate industry, high home loan rates, forged land titles, the possibility of corruption, high taxes?

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The unstructured real estate industry, high home loan rates, forged land titles, the possibility of corruption, high taxes?
Nothing matters as the real estate market in India is getting hotter.

Indian real estate has witnessed a phenomenal development in the last couple of years due to its flexible nature and its value appreciation over time. The limits of people's aspirations, concept of good living, contemporary working style and recreation, their risk appetite, and money they can commit for high quality construction and smartly done up space has led to the revolution in the real estate industry in the country.

Path breaking policies like relaxation in FDI policies by the Government of India have also paved the path for the transformation of Indian real estate. The combination of factors like strong economic growth, reforms and policies have lured global investors, easy terms of repayment of home loans, rise in income levels and urbanization.
A change of attitude amongst the generation X from that of 'save and buy' to 'buy and gain' has also boosted the housing demand in the country. India's economic performance has provided momentum to the real estate sector that has been seeing enhanced activity in the recent years. Investment in infrastructure and swift and speedy urbanization has boosted the growth trajectory of real estate sector in the country which is evident with urban centers such as Delhi, Mumbai and Bangalore attaining global character and recognition.

As the biggest part of one's investment portfolio, the idea of capitalizing on existing property has been taken to stunning heights. Whether it is a retail space, commercial land or the neighborhood each and every piece of the real estate sector has turned into a stable income/rent potential as investment property; the Indian real estate market is now offering the best bet on property.

Prices of properties are in India are rising fast, and not just in the biggest cities. As the technology boom is spreading across the country, as more Indians buy homes, and as the economy grows at faster rate, real estate is attracting more and more investors, many of them from overseas.

Merrill Lynch forecasts that the Indian realty sector will grow from $12 billion in 2005 to $90 billion by 2015. India is the most exciting real estate market in Asia. It's one of the last major countries in Asia with an improving market. Today India is the country of growth, development, better economy rate and a higher GDP. Due to this and innumerable other reasons India is emerging as the preferred choice of a lot of NRIs and apart from this due to the variety of climate and culture with a varying attraction in different cities India offers a lot to its habitants and the tourists from abroad.

It has been estimated that the market of real estate has grown remarkably in the past 10 years because of some open market schemes of Indian government. At the same time a lot of emphasis has been laid on improving tourism and offering better places for people to stay in India.

The development of real estate in India is estimated to be around US$ 15 billion and it is growing at a rate of 30 per cent every year. Almost 90 per cent of real estate developed is residential space and the rest include office, hotels shopping malls and hospitals. This kind of double-digit growth is primarily attributed to the off-shoring and outsourcing businesses, such as high-end technology consultation, call centers and programming houses which in 2004 are estimated to have accounted for 12 million square feet of real estate development.

The demand from the information technology sector certainly has changed the urban landscape in India. According to estimation in India, there is a demand for nearly 70 million square feet of IT & ITES space over the next four and five years. Several multinational companies continue to move their organizational operations to India to take advantage of lower manpower and other costs. Providing human resources and home at their work place assume great significance and therefore the requirement to create space for people to live and work that in turn cause the development of other related infrastructure. It has been a predominant trend to set up the world's best business centers, often campus-style establishments, bearing a distinguishing corporate stamp. Some of these locations are so distinctive that they are termed as the "temples of new or modern India". It is just an indication of the extent that the development of real estate taking place.

Better social and environmental conditions are the permanent plus points for India and apart from that, growing population and inclination of people in relocating towards metros is one of the major reasons why a greater demand of genuine Indian real estate agents and communities is felt.
A lot of real estate communities have been introduced in India whereby providing an ease to all those who want to relocate, migrate or immigrate in India. These real estate communities or agents provide a crisp and authentic information about different locations across the map.

This not only eases the job of a person who wants to relocate in terms of selection according to his requirements and budget but also provides a clear picture of property rates and condition in front of buyer, seller or renter. Real estate communities in India have marked a really appreciable initiative for all those who really want to purchase/sell or rent a property in India but due to hesitation or lack of confidence in this field were unable to get a better deal.
People can get help through these Indian real estate communities while searching a place or while negotiating a deal for a location or while gathering more information about the location. Apart from that these communities offer their services in all the domains of property dealing May it be for personal or commercial usage. And more information visit:- http://www.atoneplace.com

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