real estate
INTRODUCTION
REAL ESTATE IN INDIA
CURRENT SCENARIO OF THE REAL ESTATE MARKET IN INDIA
Commercial real estate sector is in boom in India. In the last fifteen years, post liberalization of the economy, Indian real estate business has taken an upturn and is expected to grow from the current USD 14 billion to a USD 102 billion in the next 10 years. This growth can be attributed to favorable demographics, increasing purchasing power, existence of customer friendly banks & housing finance companies, professionalism in real estate and favorable reforms initiated by the government to attract global investors
CHARACTERISTICS OF THE REAL ESTATE MARKET IN INDIA
Growing Market Demand
• Realization of large commercial projects
• IPOs by developers
• Gradual organization of the markets in the Tier I cities
Greater availability of information
• Emergence of transparency and liquidity
• Entry of international real estate consultancies
• Governing legal framework relaxed
• Competitive pricing
Cause-Effect scenario leading to emergence of organized real estate market in India
The property market in India has traditionally been unorganized and fragmented. However, the recent past has seen a consolidation of positions in the market as developers are stretching their capacities to the maximum in order to meet the growing market demand, which in turn has encouraged large projects with sourced financing. The IPOs by large real estate developers like Sobha, Raheja and DLF have led to organization of the market in the Tier I cities, but the Tier II and Tier III cities still demonstrate the traits of an unorganized market. Whilst the Indian real estate market still lacks transparency and liquidity compared to more mature real estate markets, the increasing requirements of multinational occupiers, as well as the influx of international property consultancies has led to the introduction of
REAL ESTATE IN INDIA
CURRENT SCENARIO OF THE REAL ESTATE MARKET IN INDIA
Commercial real estate sector is in boom in India. In the last fifteen years, post liberalization of the economy, Indian real estate business has taken an upturn and is expected to grow from the current USD 14 billion to a USD 102 billion in the next 10 years. This growth can be attributed to favorable demographics, increasing purchasing power, existence of customer friendly banks & housing finance companies, professionalism in real estate and favorable reforms initiated by the government to attract global investors
CHARACTERISTICS OF THE REAL ESTATE MARKET IN INDIA
Growing Market Demand
• Realization of large commercial projects
• IPOs by developers
• Gradual organization of the markets in the Tier I cities
Greater availability of information
• Emergence of transparency and liquidity
• Entry of international real estate consultancies
• Governing legal framework relaxed
• Competitive pricing
Cause-Effect scenario leading to emergence of organized real estate market in India
The property market in India has traditionally been unorganized and fragmented. However, the recent past has seen a consolidation of positions in the market as developers are stretching their capacities to the maximum in order to meet the growing market demand, which in turn has encouraged large projects with sourced financing. The IPOs by large real estate developers like Sobha, Raheja and DLF have led to organization of the market in the Tier I cities, but the Tier II and Tier III cities still demonstrate the traits of an unorganized market. Whilst the Indian real estate market still lacks transparency and liquidity compared to more mature real estate markets, the increasing requirements of multinational occupiers, as well as the influx of international property consultancies has led to the introduction of
Bibliography: WWW.GOOGLE.COM WWW.WIKIPEDIA.COM WWW.ECONOMIC TIMES.COM WWW.TIMES OF INDIA.COM