Growth of demand for Residential Properties in India

By | May 21, 2013

The demand for residential properties in metropolitan cites of India has grown unprecedentedly ever since liberalization took place even in the real estate sector. Many real estate builders in India the days are offering diverse list of residential properties all over the country. Everyone dreams of owning their own residential property and this dream have led many to invest in housing complexes that are mushrooming around the Indian cites. The exodus of a bulk of rural population to the cites in search for better livelihood and opportunists apart from the rising Indian middle class has greatly increased the demand of residential properties in India. The residential sector comprises the major share of the real sector boom in India.

These residential properties are available through residential bungalows, apartment’s residential homes and residential flats within a complex. With various home loans easily available from banks buying a home is much easier these days. Real estate builders have made it accessible to most classes by ensuring that these properties fit in the budget of everyone. They residential properties these days are built not merely for the affluent class, but are developed to accommodate other class of the Indian society now.

Residential properties in India range from anything from bungalows to apartments or even a simple 1BHK or 2BHK flats. These residential homes are available as independent units such as villas and bungalows and even within housing complexes comprising of numerous flats and apartments. Residential property within a housing complex offers numerous benefits that make it suitable for anyone planning to invest in a residential home.

India is booming in a real sense where the sales of residential properties are concerned and there are diverse factors that has created the conditions growth. The primary reason is the rapid industrialization and the liberalization that flung opened doors for many multinational companies to setup their base in India. This fueled growth in other real-estate sectors such as retail, hospitality, etc. With major IT and outsourcing companies setting up their base in major cities of the country, there was an rise in the demand for residential properties.

Today, because of its market potentials and friendly government polices India has soon become one of the hottest destinations to invest in the fast booming real-estate sector. Till now this sector has recorded a steady double digit growth and is expected to further grow in the coming years. This has also attracted major players in the field to invest in the real-estate sector. As for the need of housing it will keep on growing very rapidly due to the increasing population in the cites and also many NRIs are expected to come back to the country over the next few years that will further increase the demand for  residential properties. Cites will keep on expanding and so will the people coming to it. The places located near these big cities have caught the attention of people who deal in residential properties and they are coming with new housing complexes and apartments these areas.

This is a guest post by Jeremy.

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