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India Housing Market
The Indian housing market has seen several ups and downs in the recent times. Blame it on the ever high EMI or the economic meltdown, the real estate sector still has a good hold in the market. After market research on the property prices in India it is seen that the real estate sector has boomed in 2005, 2006 and 2007. The economic crisis has snubbed the development of the housing market in the year 2008 and 2009. Real estate market information will be quite clear once you take a look at the Indian property prices.
If we talk about the period before the world faced economic crisis, the real estate in the country has witnessed a considerable amount of growth and improvement. This happened because of outsourcing of most of the high end jobs to the Indian employment market. The Non Resident Indians were also seen to have come back to India. The prices of real estate in A grade cities such as Mumbai, Delhi, Bangalore, Kolkata, Chennai and Hyderabad rose up considerably. This price rise was also experienced by other cities such as Chandigarh, Ahmedabad, Pune, Amritsar and so on.
The builders who targeted potential buyers were TDI, DLF, Parsvanath, Unitech, Omaxe and so on. They invested not only in residential properties but also established themselves in other commercial properties. Right from luxury accommodations to a villa, to flats or apartments, these builders took care of each and every requirement of the customer. The builders see to it that their customers are comfortable in their homes and so provide them with other luxuries like a swimming pool, gymnasiums, tennis court in most of the accommodations. It has been already planned that these builders will also enter small towns in India and develop it to suit the metros. Looking at such plans, it can be said that the India Housing Market should be better off in 2009.
Indian property markets was in deep trouble because of the American sub prime crisis and the Lehman Brother's bankruptcy. The builders who had high hopes of selling a number of apartments, saw a major setback when there were very few buyers. As a result of this, the Indian property market fell somewhere between 30% to 40%. This might be a good time to make an investment in the India housing market 2009 but make sure, you take this decision wisely.
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