The Indian real estate market is experiencing a good growth curve these days. After recovering from the slow phase of the global economical crisis, Indian realty scenario has improved by a great degree. Indian economy is at present, the second fastest growing economy. It is estimated by the experts that it should reach the first position by the time we reach the year 2018.
Fast Economic Recovery
In the upcoming two fiscal years, the Indian economy is expected to completely recover from the economic slowdown. There was an increase in the per capita income that grew by 10.5 percent. The area investment will also go up as the foreign investment will be increasing. With increased buying power, the demand for acquiring residential property is also on the rise as more people are interested to live in luxurious homes or invest in property that will appreciate significantly in the future.
More business activities at both national and international and expansion in the Indian markets are main reasons for high economic growth. Earlier the end users were not given any consideration in the field of real estate and the main transactions were among the investors and speculators only. As a larger percentage of the real estate in India is residential space it was natural for changes like this to happen.
Indian Market Is More Transparent Now
The level of transparency in the dealings has grown. It's a sign that the domestic real estate industry is growing to the level of the international market. The importance of the consumer has been emphasized here. The slowdown has driven the players to understand the importance of client orientation. More flexibility in business strategies is also gaining significance.
Ability To Change
The ability to change with the demand in the market has also been highlighted as one of the main factors for demand in the residential property segment. Demand in the real estate market is not a constant thing. It varies from time to time. So it is the need of the hour to go according to the market dynamics. With initiatives taken by the Government and the private developers, there are more affordable and modern housing options available for immediate buying. Therefore, the growth curve is predicted to go even higher in the near future.