New Housing Projects in India are being announced every other day as the real estate sector has become a profitable industry all across the nation. This sector has witnessed a revolution due to the government's flexible policies and globalization of Indian industries. The factors like remarkable growth rate in Indian economy, liberalized foreign direct investment (FDI) system and positive demographics are some of the reasons behind ongoing real estate boom and new housing projects in the country.
Real estate projects play a major role in the Indian economy. It is the second largest employing sector after agriculture and is growing at 35 per cent annually. Due to this, it is considered as the most profitable and lucrative option for investment.
As a matter of fact, the demand for Indian properties has increased rapidly. To fulfill the demand, a large number of real estate projects were launched throughout the country. This lucrative sector is attracting the Indian businessmen as well as the foreign investors. It regularly receives funds from overseas, private equity funds, venture capital and many more.
Due to the increasing demand of commercial property for business purpose in India, foreign investors spending in billions for residential as well as commercial property such as IT parks, medical, hotels, educational institutes and several others throughout the country. Today, the Indian real estate market is touching a new height in the areas like retail, residential and commercial in the major cities like Mumbai, Kolkata, Delhi, Noida, Gurgaon, Faridabad, Chandigarh and Chennai. Apart from the big cities, the real estate builders and developers also coming up with their several attractive housing projects to the different smaller towns.
Apart from government's flexible policies, there are several other reasons behind the sudden jump in real estate sector such as increase in nuclear families, higher earnings, easier access to bank loans and NRI investment. NRI or Non Resident Indian plays a key role in the real estate projects. As Indian real estate sector provides special quota to NRI population, it has become the hottest destination for them. Due to clear policies, good infrastructure support, simpler availability of finance and repayment process as well as selling of their property have made easier for the NRI’s returning to India.
As real estate investment is considered to be the most lucrative option for investment in India, people with more surplus money are on a look out for profitable options to invest their money in. Some of them are investing their money to buy property in a good locality for renting purposes. Whether it is the project for housing development or commercial development, people want to invest their money, as they know there is no downturn in property market. The healthy trend of current real estate market has seen the arrival of corporate heavyweights in building construction business and we hear the announcement of new housing projects almost every day.
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