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 India Property
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India property has come of age with ever increasing pace of real estate investment not by Indian investors alone but also by big corporate houses from across the globe. The liberalization of policies by the central government and subsequent opening of Indian economy for global conglomerates have proved beneficial for the development of commercial segments in the country. The challenges posed by international companies to indigenous industrial giants have created a competitive environment, which continuously redefines the standard of industrial output and also streamlines the market trend for more growth in various sectors. New targets are set and with the swift flow of investment, there is no financial constraint to achieve the same. With the growing trend of industries in the country, the development in India property is also growing by leaps and bounds.
India has traditionally been known world wide for its cultures, values and strong family bonds. And, today with a booming economy and an enviable future ahead, India has become a promising country to live in, unlike a decade or two back when people longed to go and settle abroad. Recently conducted surveys have projected India as one of the most preferred destinations for property investment globally in the next few years. This remarkable achievement is the result of phenomenal success of IT industries in the country. Following the trend set by IT, ITES and knowledge based industries are retail sectors, hospitality & hotel industries, healthcare, tourism other commercial sectors and of course the residential segment. Retail alone accounts for the 10 percent of the GDP and nearly eight percent of the total employment generated in the country.
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It is expected that more that 367 million sq ft of office spaces will be required for IT, ITES, BPO and software industries till 2013. There are still other commercial sectors that are emerging in a big way in different cities of the country. Projected requirements of lands and properties for these emerging sectors are a big boost to the faster growth of India properties across the nation. The last eight years have seen an approximate growth rate of 30% annually in Indian properties nationwide. This growth rate is expected to rise even further in the coming years seeing the trend of real estate investment and commercial development.
The Indian government is also keen on achieving a rapid pace of industrial development and property growth. This attitude of government is reflected in the grant of Special Economic Zones (SEZ) to various real estate developers, indigenous as well as global, at major locations in the country. It will give an added fillip to the growth of real estate in India because the land is made available at cheaper rates and the developers is exempted from tax liability for a period of 10 years. Several hi tech cities have already come up in the country so far and many more are slated for the coming years as result of these measures. FDI in India property has crossed the mark of US $ 8 billion till 2005 and in the next five years the real state sector in the country is expected to reach the level of $ 40-50 billion.
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| STATES & UNION TERRITORIES OF INDIA
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| India Housing- Real Estate India |
| India Housing- Property in India |
| SEZ-Special Economic Zones India |
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