Real Estate market of India has been one of the preferred investment choices for the investors for a while now. The reasons behind this trend are- quick growth in the housing market, more individuals prefer the apartment culture and the government rules aiding the developers with ambitious projects.
The trend in the real estate India has worked well in past few years and there are developers involved in large scale projects all over the country. Many cities are slowly converting into real estate hubs and offering a variety of residential properties as well as commercial ones. The prices are soaring with the increased demand. All over India, the growth in the real estate market of residential properties has constantly been more and according to the trade experts this trend looks promising for the next few coming years. Rise of demand of residential properties has made more number people to invest their hard earned money in upcoming residential properties in India as this is turning out to be a safe and beneficial investment option. A latest research performed by ASSOCHAM tells that about 65% of the people who are employed think of investing money in real estate especially in the residential segment.
Market Trends for Residential Project
In the last 15 years, the real estate business in the country saw remarkable growth and development with a slew of projects focused on residential development. The various infrastructural developments are also helping grow the residential sector. Coming of the Metro rail, expressways and the growing job opportunities in the country has only fueled the demand of residential properties. There are many developers in the country coming with mega projects all over the country. Some of the well known names being Tata, Unitech, Hirachandani, Oberoi, DLF and many others. All of the projects offered by them features state-of-the-art amenities which are making the residential projects in the country a lot more appealing to investors.
The real estate hubs:
In the present economy, Delhi/NCR is one of the biggest centers for the property investment in India and this is the case for both the commercial as well as residential projects. However, it is estimated that the prices of properties are highest in the Mumbai zone with every area locality offering something for buyers with deep pockets. Mumbai and its suburbs have huge population pressure and there is not enough supply of property to meet the high demand. Other rising hubs are Bangalore real estate and Kolkata properties. Along with the increased popularity of residential projects, the realty market is also receiving attention in the commercial projects. And with heavy demands in the industrial hubs, the prices of commercial properties are reaching sky high.
Who are the buyers?
The residential property market is becoming one of the top investment options as there is good growth in this sector and many developers are strictly focusing on the residential projects. Most of the big cities have adapted the apartment culture. In the Metropolitan cities the trend is quickly shifting towards rental homes as well since the demand is very high from the people who do not wish to buy the apartments for any reason.
Many luxury residential projects are also coming up and these projects are usually in hubs such as Gurgaon and Noida in North, and Bangalore and Hyderabad in the South. Either completed or under-development and the targeted customer base for such projects are the NRIs as they have the bigger spending capacity and prefer having a second home in India.
With the current market trends, the residential properties are surely one of the most promising investments for individuals and the investors. The country is witnessing big developments in all the urban centers cities and there are no apparent reasons in nearby future for this to stop.