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Realty boom in India
By Rakesh Malhotra
The real estate market in India is on upturn. The property rates are soaring up on one hand and there is demand for more properties on the other hand. India has become an investment hub for anyone who wants to reap high returns from this property boom.
It is the right time to invest in real estate market in India. There is unprecedented growth and real estate prices are skyrocketing in the major cities of the country. All around development is very much visible in the form of skyscrapers, shopping malls, office complexes, and residential apartments mushrooming everywhere. Most of the development has happened in the big cities like Delhi, Mumbai, Bangalore and Hyderabad.
There has been rapid development in these cities with more and more industries lead by software and IT-enabled companies getting established there. Huge shopping malls, multiplexes and multi-storey office complexes are common site here. These malls and complexes are of world class quality and can be compared to those in the west.
This growth in real estate is directly proportional to the growth of industries and employment opportunities. With the opening of industries, there is a rise in working population and demand for commercial property in India. There is significant hike in the purchasing power of the people and as a result of that there is an increase in demand for residential properties too.
People have realized the fact that investing in real estate is much safer and gives hives a higher rate of return as compared to other investment options. Banks and financial institutions are offering housing finance at very attractive terms. All those who do not have liquid cash but wish to own a property can approach these banks for loans. This would enable them to own a property and repay the loan amount to bank along with applicable interest in easy installments.
The Indian realtors are also getting professional in their approach and are adopting innovative ways to serve the customers. Nowadays, realtors also provide online services to access larger customer base and to advertise the properties available with them. We also get to see specialized commercial and residential realtors.
The Indian government has also supported this growth of real estate in a major way. It has made real estate lucrative for foreign investors and NRIs. NRIs have been pumping in lots of money in the real estate and are enjoying high returns. In a nutshell, real estate has proved to be a boon for all investors.
About the Author
Rakesh Malhotra, an associated editor to http://www.indianrealestateforum.com. Indian Real Estate Discussion Forum help you to exchange ideas on various issues related to commercial and residential properties in India and its various cities like Delhi, Gurgaon, Noida, Mumbai, etc.
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