The real estate sector has been the backbone of the Indian economy and has a key contributor in the economic growth. According to the data revealed, the Real Estate sector contributes 8.53% of the total GDP and also encountered a growth rate of 30%. It is also essential to note that this sector has emerged as the 5th largest destination of foreign investment. According to a study by ICRA (India’s Credit Rating Agency), the realty sector today ranks third among the 14 major sectors of the economy.
Today, India’s economy is developing rapidly and this has led to migration of people from rural areas to cities. The shift from rural to urban areas is reflected in the increasing expenses of the households. In order to satiate needs of property buyers, all types of properties are available in India ranging from high cost properties to budget properties. So, real estate property in India has become profound over the past few decades. Infrastructure, construction and property are considered as a sector and India witness’s exponential growth.
Popular cities like Mumbai, Bangalore, Pune, Delhi, NCR and Ahmedabad offers luxurious residential townships and well-developed commercial spaces to property buyers.
The advancement in infrastructure and the industrial development along with several changes in the economic policies has surged the economic growth of India in turn influencing the real estate property in India.
According to latest reports, real estate in India has shown movements of prices in the capital and rental values on residential projects across the major metropolitans- Delhi, Kolkata, Mumbai, Hyderabad, Bangalore, Pune and Chennai. The metros infused new hope for the real estate industry.
As the real estate market grows, property trends keep changing and so do innovative methods to keep up with these altering trends. In India, you will find different types of properties including residential properties, commercial properties and luxury townships.
To fulfill customers’ needs, many leading developers have come up with ‘theme-based projects’ ranging from cultural themes like Greek, Spanish and Mediterranean to interest-related themes like sports, Hollywood and abounding more. Hence, not only end-users, but even low-ticket investors can reap profits from investments in India.
There are many real estate websites in India that helps to search the property. People often get perplexed as it appears as a life time investment for most of the people. Secondly, one has to lose a hefty amount from their pocket so it requires a great deal of research before making any property investments.
Although most of the people depend on local real estate agent when it comes to buy or rent a property but there are many great deals, you can find with your property dealers. But real estate websites in India helps in primary research thereby giving an overall idea about the property including the location, connectivity, specification etc. So, it acts as a very important platform for research.