THE SCOPE OF THE INDIAN REAL ESTATE

Last decade has been significant for the Indian Economy in terms of real estate sector. With growth in prices and sales in , the performance of real estate was lustrous. Several amendments refined the market transparency making the residential property sector much better for investors and consumers.Indian Economy

Introduction  The strong fundamentals and amendments in Indian economy saw a favourable impact on all asset classes of Indian real estate viz. housing, commercial – office space and hospitality.  High growth in services as well as manufacturing sector plus the ever increasing population resulted in high demand for industrial and commercial estate.  Further, the affordable housing has the become the next big thing in 2018, given the thrust by the government. Also improved living standards are driving the demand for better quality housing and rural and urban infrastructure.

Affordable Housing  Affordable housing includes housing units that are affordable and low-cost for that portion of the society whose salary is below the average household income.  With the increase shift to urban areas and the ever increasing prices, low-cost housing will now be the most feasible choice for those, who would want to buy homes now.  The government has also made amendments in its housing policies to cover a large buyer base and help developers offload their budget home inventory

 As prosperous cities draw more and more people, therefore demand of commercial and industrial properties will never really decline. As more people shift from rural to urban, the worth of prime urban real estate will increase and rise. Lack of space urges and drives the development of flats and apartments.  With that said, housing developers try to be more creative and ingenious about their design and contraction for residential and commercial spaces. They try to maximize living areas to ensure that homeowners get more out of their home without wasting a single space. Shift from Rural to Urban

Driving factors in the growth of Real Estate

The RISE after the FALL  The housing developers in India will recall 2017 as a tribulation in the country, and hope for the better In  As predicted more and more people will gain confidence in this sector and there will be a market recovery, enhancing sale and decreasing unsold units from 2018 onwards.  Increasing focus on providing housing to people of economic weaker section and lower income group.  There will be significant increase in project execution through Public- Private partnership.  Ever increasing demand for office and industrial office space.  Consolidation or merging among brokers and developers, more demand, low home loan interest rates and more ingenious ways of building homes

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