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The Indian real estate is in for a change, rising from the suppressive financial circumstances that were prevailing in the recent past. The effect of global economic slowdown in real estate further affected other related sectors like the service industry. However, things seem to fall into place though it could be a gradual process. Increased foreign direct investment has been a great help for the industry and there has been a dependency on public –private ventures.
The realty sector contributes to about 6.3 % of the nation’s GDP and major changes taking place in the sector would have a direct impact on the country’s economy. The past real estate slowdown was a prominent concern, and urgent implementation of effective strategies was imminent.
Though there is an improvement, the sector requires further enhancement for a total recovery, in the form of investments, which, according to several surveys could be up to $ 42 billion dollars. However, the sector calls for a major investment in the near future, within the next ten to twelve years.
The consumer demand was showing downward trends, but is expected to increase drastically over the next few years. This is going to be a critical time for the industry which has to be well-utilized. With the right planning and more investment, the realty sector would witness exceptional growth and would boost the Indian economy.
Few existing strategies like eased policies on foreign investment, regulatory measures and others have helped the industry a lot. Similar strategies are the need of the hour, emphasize industry observers.
The sub-sectors like hospitality, service, residential or commercial require different strategies and now is the right time to implement them, indicate surveys on the industry.
It is imperative to assess the consumer demand and identify the areas of potential by keeping customer preferences in view.
The realty sector contributes to about 6.3 % of the nation’s GDP and major changes taking place in the sector would have a direct impact on the country’s economy. The past real estate slowdown was a prominent concern, and urgent implementation of effective strategies was imminent.
Though there is an improvement, the sector requires further enhancement for a total recovery, in the form of investments, which, according to several surveys could be up to $ 42 billion dollars. However, the sector calls for a major investment in the near future, within the next ten to twelve years.
The consumer demand was showing downward trends, but is expected to increase drastically over the next few years. This is going to be a critical time for the industry which has to be well-utilized. With the right planning and more investment, the realty sector would witness exceptional growth and would boost the Indian economy.
Few existing strategies like eased policies on foreign investment, regulatory measures and others have helped the industry a lot. Similar strategies are the need of the hour, emphasize industry observers.
The sub-sectors like hospitality, service, residential or commercial require different strategies and now is the right time to implement them, indicate surveys on the industry.
It is imperative to assess the consumer demand and identify the areas of potential by keeping customer preferences in view.
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