The Indian Real Estate - The Real Deal

Recently my brother was looking to acquire some land back home and during our discussions i got intrigued into the Indian real estate market how it has suddenly undergone such a drastic change especially in the metros where the land value has more than doubled in the past couple of years.

In the new millennia India has emerged as strong, swift and bold player. Industry expert’s believe that the Indian real estate has huge demand potential in almost every sector, be it commercial, residential or retail.

India is the most exciting real estate market in Asia,It's one of the last major countries in Asia with an improving market.

This spurt of growth in the Indian real estate is in large part due to the burgeoning outsourcing and information technology (IT) industry. It is estimated that by 2010, the IT sector alone would require 150 million sq.ft. Of space across major cities.New companies means new offices, houses, shops in short commercial, residential and retail space.

This growth is facilitated by favorable demographics, increasing purchasing power, existence of customer-friendly banks and housing finance companies, professionalism in real estate and reforms initiated by the Government to attract global investors. People have more purchasing power and exposure to organized retail formats has redefined the consumption pattern. Even small towns want to emulate the culture of their big city cousins. As a result, retail projects have been mushrooming across even B-grade cities.

This new way of life has quite drastically changed the face of India’s real estate, may it be the city centers the urban areas or the new yuppie towns. Small shops, old fashioned bungalows and office blocks have all changed into luxurious apartments, with club-houses, pools and sprawling greens. Instead of small shops we have humongous sprawling malls and office complexes.

with the boom comes the crunch, property prices in India are rising fast, real fast and not just in the biggest cities. As the tech boom spreads across the country, and as more Indians buy homes, and as the economy grows at faster than 8% a year, real estate is attracting more investors, many of them from abroad.

But one thing is for sure it is no longer going to be cheap or easy to be a player in the Indian Real Estate Game.