In India, real estate plays a crucial role that offers a wide range of options from affordable houses to shopping malls to large office buildings to infrastructure leading to huge employment opportunity with real estate professionals. Housing sector is seen to be the second largest industry that generates employment. Investment in real estate has also become very popular. The real estate also attracts a lot of money in the foreign direct investment.
The growing flow of foreign direct investment into the Indian real estate is encouraging increased transparency. The wonderful amenities offered here have made it a favorite destination for investment. Top most education institutes advanced hospitals, schools, malls and much more have added to making India a preferred destination. Some famous Real Estate companies have developed highly advanced commercial as well as residential projects in India.
In India the government talks about Housing for all by 2020, but seeing the present day conditions where the county continues to suffer from oversupply and high real estate property prices, it is very difficult to believe this? At present, the real estate market is going through an up and down phase. The low property prices have been sharper especially in the metro cities. The real estate price gains slowed drastically and expected to continue with it for quite a few years.
The property market faces a drastic slowdown in the seven major cities that are Delhi NCR, Mumbai, Chennai, Kolkata, Bangalore, Hyderabad and Pune. But still most of them remained stagnant all throughout. Sales have been quite low as compared to in the past year which has led to inventory being piled up and forcing developers to offer these properties at huge discounts. The major reason for the slowdown in market sales is not the shortage of buyers but un affordability of habitable units in most cities.
