Evolving at a rapid pace
One of the most promising and evolving sectors for investment in India is the real estate market. Not only is investing in the real estate market safe, it also delivers good returns. Experts say that investing in real estate is better than investing in gold or any other scheme. Although the real estate segment was going through tough times in the last few years, demand has shown to increase and the property market is expected to grow in the coming years and give you favourable returns. The segment is growing at a rapid pace and is picking up momentum. The size of the real estate market is expected to touch $180 billion by 2020. The growth pace at 9% per annum looks promising. Rapid urbanisation and an increased demand for property in Tier 1 and Tier 2 cities. metro cities like Chennai, Bangalore, Mumbai and Hyderabad have become sought-after destinations for investment in reality. The increase in the number of IT companies in the cities is reason for this. Both luxurious and budget apartments are being constructed to suit the different demands of the people.
For both high end and budget buyers
India’s property market is not just for high-end property buyers, it also has a lot of room for the mid budget buyers. With various initiatives from the government, the budget segment is growing rapidly. Schemes like the Pradhan Mantri Awaas Yojana have been launched with the objective of being able to make housing affordable to everybody. Homebuyer rights have been given a lot of importance by the Indian government. RERA committees have been set up in every state by the government to keep a check on the real estate market, which is so crowded, and also to ensure that all construction projects are completed on time and handed over. This act requires all builders to register and provide regular updates about their ongoing project. Those who violate this law have been imposed harsh penalties.
Technologically connected high end residential properties is very sought after and also offers a good and sustainable living environment. Success in the segment depends on such technology innovations. The concept of sustainability is seen being inbuilt in a large number of projects, both residential and commercial, by real estate developers. The promise of lush green spaces, good air, a better social life and so on attract a lot of homebuyers.