In order to meet the growing real estate demands in India, developers are leaving no stone unturned since the past few years. The recent past has witnessed a rapid increase in the market size as well as less fragmentation as compared to the initial stages of expansion. Hence, to overcome the economical gap of realty industry, builders have stretched out to the maximum and are making optimum use of the opportunities lined up for them. An interesting aspect of this growth is the fact that there are now more prospects of creating a favorable market for buyers with the help of new government initiatives and lucrative returns.
In this overall scenario, metropolitan cities have the most critical role to play because of their rapid development. As compared to the market of 2009, there is now much more opportunities for builders to introduce new property segments within their own demands and discount offers. These new offerings have opened new vistas for the impending schemes and reforms that are waiting to come in action for enhancement of real estate in India.
Metro cities to be the game changer
It is a well-known fact that India’s development is largely dependent on the urban cities such as Delhi, Mumbai, Noida, Gurgaon, Pune & Bangalore. The locations are widely known for their constant evolvement in the real estate industry, which is becoming a paradise for developers. A great way to invest and receive returns for builders, the realty industry of metro cities is a different segment altogether. According to a latest research report by Research & Markets, the major metropolitan cities of the country witnessed an increased transaction activity as compared to the time period of 2010-2012. The growth of office spaces is the one that gave a much-needed push to the industry and it was only after this investment opportunity that buyers became aware of the increased activity.
Started out as an unorganized market segment, the Indian real estate industry is considered to be more in shape now. Keeping aside the Tier 1 cities, Tier 2 and Tier 3 segments have still a long way to go with their unpredictable market conditions. Within this hustle bustle of new reforms, there is also a fact that India has emerged out to be one of the topmost countries to have such productive market conditions.
The current position of real estate in our country has a bright future ahead with a view to make as much profits as possible. With metro cities taking charge of the situation, one should expect a higher amount of development, which is surely going to be fast paced. Although, the market gets weak sometimes, this doesn’t mean that India property business in India is lagging behind. It simply implies to the fact that there are sometimes ups and downs in this business. From unsold inventories to fluctuating market rates, there are numerous challenges ahead, which are only going to be tackled by sheer competitiveness and a well-planned layout.
Almost all of the metro cities are getting into the driver seat of the competition, making it a nail biting event for developers and real estate researchers around the world.