Commercial Land

India's property markets are craze driven largely by the rapid expansion of its information technology industry and the simultaneous growth of its middle class. The Commercial Land is fast becoming pricier as the Indian Cities are suddenly experiencing a boom in Marts, Market Plazas, Malls, and Shopping Complexes with the International brands making their presence felt in India in a big way along with new local Retailers. Although there is no specific national statistics, yet upon researching it is found that there are thousands of commercial, retail, and residential projects springing up across the country. In 2004, developers erected 18 million square feet of commercial buildings in India. This year 23 million square feet of new space will come on the market, and by 2009, the number will rise to 50 million, according to global real estate services providers. The building surge is restrained compared with China, where 25 million square feet of commercial and 200 million square feet of residential space will be built this year in Beijing alone. Nevertheless, experts think India has as much potential as China especially if the government removes a maze of restrictive regulation.

The investment hot spots now are the technology driven growth centers of Bangalore, Bombay, Hyderabad, Madras, and Gurgaon, a suburb of New Delhi. The real estate boom has also hit other cities such as Pune in the west, Jaipur and Chandigarh in the north, and Kolkata in the East. The country's commercial and residential real estate market is valued at about $50 billion now, and is expected to grow 25% annually. Rental income yields are more than 12% in India, compared with 9% in China and 5% to 8% in developed markets of the world. No one doubts, though, that there is a real need for new construction to keep pace with India's robust 7% economic growth. Indiahousing.com gives you all information on Commercial Land.