Intensifying Demand for Buying Properties in Real Estate in India

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Published: 12th October 2012
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In past few years there has been seen a tremendous rise in the market of real estate in india. It has been expected that there is no chance for next few more years for the graph of the real estate properties to come down or becoming stationary, due to high rise demand of the investors. Apart from the metro cities, even the prices of the real estate in small cities are tremendously increasing. Number of buyers are investing their money to buy properties in India, due to the continuously rising in pricing. Buying property in real estate is not that much tough nowadays, because banks are giving loans to builders as well as financial institutions are providing real estate funds.

Astonishing growth has been noticed in the Indian real estate property, due to the modernization as well as globalization. Apart from the Indian players, most of the International market players have also shown their keen interests in India real estate sectors. The real estate in India is growing at 35%, which is estimated to worth US$ 15 billion and is anticipated to grow at the rate of 30% annually in the coming decade.

The recorded data suggests that after China the economy in India is one of the fastest economies in the world. After flourishing of real estate property in India especially in tier I cities like Delhi, Mumbai and Bangalore, the property developers are seen to move towards the tier II cities of Hyderabad, Pune and Chennai followed by tier III and IV cities of Kolkata followed by Chandigarh, Kochi, Mysore, Mangalore, Indore, Visakhapatnam and many others.

The Indian real estate sector is gaining lot of interests and preferences from the property buyers, investors as well as developers. This is due to the fact of increase in the demand of the buyers, their constantly growing economy as well as continuously development in the commercial segment which altogether have fuelled up the property sale in India.

Real estate India has gained importance especially in the residential sector thereby creating luxurious apartments, premium quality flats, homes, farm houses and Penthouses. The Indian real estate throws light on some of the major cities. For example Gurgaon is registering the fastest growth in the real estate sectors. Some of the well established real estate corridors that is enjoying tremendous profit in terms of growing projects include Golf Course Road, Sohna Road, Pataudi Road, Manesar, Jaipur Highway and a concentrated growth in Bhiwadi and Dharuhera. 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. Well renowned developers like Godrej Developer, Tata Realty from Mumbai and Sobha Developers from Bangalore have launched their projects in Gurgaon.

Bangalore is considered as another location for the development in terms of real estate. Proximity to the international airport, Metro lines, Outer Ring Road (ORR) and IT belts have been the most evident factors for the spread of residential catchments. Knight Frank report states that during the financial year 2012, Bangalore has launched approx. 9,700 units which are supposed to be completed in the next 2-3 years. The report says that at present, most of the new residential projects are concentrated towards the northern and southern part of the city.

But Chennai has seen stability in the last one year in the residential market. Some of the famous developers who played their importance significance includes Tata Housing, Vijay Shanti Developers, Godrej Properties, Hira Nandani, Orgadam City developers, Mahindra Developers etc. According to Ramesh Goel of The Great India Realty Company, Sriperumbudur has recorded an average increase of 6% in the capital values of multi-storey apartments, while the localities such as Porur, Poonamallee, Mogappair registered an increase of 2-4%. Prices of residential properties are higher in Sriperumbudur owing to its strategic location near the Chennai-Bangalore Highway (NH4).

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