Being heads and shoulders above the other countries, India has emerged as the 3rd most preferred real estate destinations. Real estate in India serves as an engine of the nation's growth and presently it is one of the most lucrative grounds for investors who want to generate profit. The major boom in the real estate sector has been fueled by the industrial sector growth and liberalization policies of the government.
What has made India, the 3rd most popular real estate destination?
Budding economy: India's growing emergence as a leader in the global economy is one of the major reasons of India becoming the 3rd most preferable real estate destinations. It has been found that the profit from construction especially IT sectors in India is 18% and 5% of India's GDP is contributed by the housing sector. There is a demand for commercial real estate and the lease rentals have also been picking up. India has emerged as a fastest growing economy providing the best opportunity for capital appreciation.
Foreign investment: Investment made by the foreign investors in the townships, housing, construction projects etc. has enabled a high growth curve in the real estate sector. More than 18% foreign investors have shown interest in the real estate of India.
Market potential: As the 5th largest economy in the world, India offers high prospects for growth and earning potential. It offers unlimited opportunities for overseas trade.
Initiatives taken by the government: The initiatives taken by the government of India has offered a boost to the real estate sector making it the 3rd most preferred destinations. As a part of initiatives taken by the government, RBI (Reserve Bank of India) has declared concessional schemes for real estate sector. Steps have been taken to reduce the time taken for development of SEZ's (special economic zones). India's real estate sector is extremely promising. An unhindered growth in the real estate sector for the next twenty years is expected. The above stated points clearly provide you with all the reasons that make India the 3rd most popular destinations among other emerging countries.