Property in India Creating a New Benchmark

Real estate India market has shown multilevel growth in the past few years, and is expected of having no chance of coming down. In recent year the companies of real estate in India has seen to have an enormous growth thereby providing an excellent opportunities for investing in the properties. Hence, it has become a hot topic for real estate discussions about real estate in India, builders in India buying of properties in India as well as properties in India. Certain report says that in Indian real estate 80% of property units are dwellings, while the rest are for commercial as well as for other purposes. The major factor for the growth of real estate in India is the tremendous rise in the middle class families whose financial capacity has grown due to globalization and communication industries. Hence, this indicates that there will not be any loss in the demand for the residential properties in India. Many new flats and independent residential villas are getting constructed and sold even in remote places in India.

According to Knight Frank’s proprietary partner and Lord Andrew Hay, the head of global residential agency, who states that though there is the chance in the price fall of 10-20% in some of the international markets in the next 18 months, the property in India market, is expected to remain stable in the near future. In terms of residential sector, the cities in India do rarely follow the tandem property cycles, where the cities like Mumbai, Bangalore and Delhi/NCR comes in Tier 1 that basically tends to lead the cycle. While it has been reported that since 3rd quarter of 2009, the Hyderabad residential prices have reported to remain constant without any major fluctuation.

In the mid of 2009, the residential property in India especially in Bangalore have increased by 25%, despite of price being fall by only 13% during the recession. While at the same time Chennai, Kolkata and Pune markets have seen growth of 20% during the same period, Delhi/NCR by 16% and at the same time 35% rapid rise in Gurgaon.Coming to the data collected for the individual cities in India property. By the Urban Land Institute, Bangalore is ranked today as the 10th most favored real estate investment in Asia pacific. Compared to other Indian cities, Bangalore is known for its rapid growth and high quality real estate developments, where each and every flat are designed by world class architects and efficient engineers. Most of the residential catchment areas encircles around international airport, Metro lines, Outer Ring Road (ORR) and IT belts.

Gurgaon is registering the fastest growth in the real estate sector in the country. Among the well established realty players like Godrej Developer, Tata Realty from Mumbai and Sobha Developers from Bangalore have launched their projects in Gurgaon, which have laid a greater competition in this region. The major developing growth corridors in Gurgaon include the extended Golf Course Road, Sohna Road, Pataudi Road, Manesar, Jaipur Highway and a concentrated growth in Bhiwadi and Dharuhera, which are also known as New Gurgaon. The sectors of New Gurgaon, around NH-8, like Sectors 37, 37D, 80, 81, 82, 85, 86, 90, 92, 93, 95, and 99 are registering a tremendous response.

This entry was posted in Real Estate. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s