Booming Demand of residential Properties In India

India is known to be the second largest country in the world in terms of population after China. The whopping population of the country also spurs the demand of real estate in India. Real estate is witnessing a growing demand in India owning to its population. Barring the population that lies below the poverty line, the middle class, upper middle class and the upper class stands as the major contributors of real estate in India.  The real estate sector has been the backbone of the Indian economy and has been a major contributor in the economic growth.  It is evident from the very fact that the Real Estate Sector contributes 8.53% of the total GDP and also witnessed growth rate to the tune of 30%. It is also pertinent to note that this sector has emerged as the fifth 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.

 

Increased incomes, easy availability of finance, favorable interest rates and tax benefits have ensured that there will be a huge demand for Residential properties in India. This opportunity is not limited only to the metros but percolates to Tier II and Tier III cities as well. No wonders then investors are looking to tap this huge investment opportunity. It is expected that demand for residential properties in India is going to increase because the population in India is going to reach 1.3 billion by 2020. Rapid development of economy in India has also led to migration of people from rural areas to cities for better living conditions.   In order to fulfill needs of buyers, all types of properties are available in India ranging from high cost properties to budget properties.

 

When you are planning to buy a property, several important aspects are involved. One of the most important thing is proper and detailed research. From traditional to digital, the real estate industry has come a long way and it has been a paradigm shift.  Many new players have also entered into the market in the past few years and number of real estate websites in India are a proven example of this.

The world is gradually becoming dominated by the presence of the Internet and its various activities. It has helped the businesses and the property market all over the world to get associated with each other and trade.

 

Real estate websites offer a host of benefits-

Faster means of searching a property: Online searching is the fastest means of finding a suitable property. Within few minutes you can have a look at countless properties and also the deals are quicker.

Wider reach: Just by sitting on your laptop you can access information about properties in any part of the world with the help of these Real Estate portals.

 

Time saving: In the world where people don’t have much time to go out searching for a home to buy or hire on rent, real estate websites in India provides an easy access to large inventory. It does the major part of your homework in few clicks. Hence it is time saving and hassle free.

Creates an image: Having online profile adds to the credibility of the developer or builder. Buyers prefer to opt services from a trusted brand so it helps win the confidence of the buyers. It not creates brand presence in the market and also boosts the brand image.

 

Booming Demand of Residential Properties in India

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