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Swastik Group
The Expansion of the Real Estate in India and How you can benefit from it. Indian realty is expanding at 30%, particularly in Tier II and Tier III cities. The $15 b realty market is expected to reach $ 90 b within the next Eight years. For those who have proper info, you can take advantage of this bullish market. The rise of the middle class ( 500 million ), Non Resident Indians investing in Indian realty, Foreign Direct Investment entering the market, expansion of MNCs and Indian multinationals, proliferation of eduational instistutions, growth of IT, BPO, food processing & health care - all these are the factors responsible for the growth of Indian realty. Virar, Chandigarh, Gurgaon, Vizag, Coimbatore, Kochi, Jaipur, Nagpur are some Tier II cities witnessing unprecedented boom. Real estate prices are now not affordable to the common man. IT parks are proliferating and more and more MNCs are entering India. NRIs, traders, well settled doctors, lawyers, engineers are ready to spend crores for their dream lands. After purchasing these lands, they are spending 50/60 lakhs on construction. How can the common man, bereft of the much needed capital, afford houses or flats in India ? Trading is one of the reasons for the rise in prices, as a high potential nation industrialises slowly and steadily . The Indian GDP is growing at 9.1% and India has already opened up the Realty, Agri and Retail sectors. Research has it that realty can give an average return of 8%. Realty prices are doubling in some TIer I cities like Bombay, Chennai, Bangalore etc. Residential prices have gone over Rs 5000 per sq feet and commercial prices are over Rs 10000 in Tier I cities. Goldman Sachs has predicted that the top six economies of the world in 2050 will be China, USA, India, Japan, Brazil and Russia! The requirement for IT space is estimated at 66 million sq feet and commercial space 15 million sq feet.
Interests: Property In Virar West
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Aug 22, 2015