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The growth of the nation is evident with the developing infrastructure as it strengthens the country’s economy. The developing infrastructure not only plays a vital role in the country’s economy but also plays an important role in individuals’ life in means of transport, accommodation and healthy lifestyle.
Urbanization in India is seeing a high pace and would likely contribute increase in the country’s GDP. Currently, the country’s GDP from urban economy is approximately 60%, though the population in urban city is less than 30% and it is expected that it would rise to 70% over the next couple of decades.
Recently, the real estate sector has contributed around 6% in the nation’s GDP. According to the Ministry of Urban Development report, about 590 million people will live in cities and today it would be nearly twice the population of USA. In past few years, the government has proposed world-class infrastructure that includes elevated high ways, road routes, metro projects, numerous Townships and corporate IT parks across many cities in the country to provide better standard of living and working culture to the people.
The increase demand in residential, commercial, open space and retail sector drive the real estate sector and backed in the urbanization of the country. Likely, around 700-900 million sq. mt. of commercial and residential space would be built and 2.5 billion sq.mt. of roadways would be laid in the next decade.
In a recent ‘India's urban awakening’ report by McKinsey Global Institute (MGI) has revealed that India would require around US$ 1.2 trillion in next two decades to modernize urban structure Government’s relaxation of FDI policies has also made the real estate an attractive investment option and to keep the growing urbanization in pace. With few positive notes in the real estate sector in 2012, government took many measures in order to enhance the growth of the real estate sector in 2013.
The two key reasons behind the developing urbanization are the relaxation of policies in regards to real estate by the government and the expansion of industrial sector that indirectly gave rise in demand for residential properties and retail sector.
The residential segment is seeing high demand due to the set-up of many IT hubs and IT parks, MNCs and NRIs are also attracted by the Indian Real Estate because of the depreciating money.
With the development in peripheral infrastructure including hospitals, transportation, education and employment in the tier-2 cities, the growth in real estate industry would be witnessed in tier 2 cities and tier-1 cities seem to have reached an inactive stage.
The entry of large number of Fortune 500, other reputed companies, MNCs, and foreign countries would give rise in demand for corporate space. The real estate industry in India seems to be promising with demand in housing sector, commercial space, several township projects, and with a proposed project for the senior citizens across the country.
Urbanization in India is seeing a high pace and would likely contribute increase in the country’s GDP. Currently, the country’s GDP from urban economy is approximately 60%, though the population in urban city is less than 30% and it is expected that it would rise to 70% over the next couple of decades.
Recently, the real estate sector has contributed around 6% in the nation’s GDP. According to the Ministry of Urban Development report, about 590 million people will live in cities and today it would be nearly twice the population of USA. In past few years, the government has proposed world-class infrastructure that includes elevated high ways, road routes, metro projects, numerous Townships and corporate IT parks across many cities in the country to provide better standard of living and working culture to the people.
The increase demand in residential, commercial, open space and retail sector drive the real estate sector and backed in the urbanization of the country. Likely, around 700-900 million sq. mt. of commercial and residential space would be built and 2.5 billion sq.mt. of roadways would be laid in the next decade.
In a recent ‘India's urban awakening’ report by McKinsey Global Institute (MGI) has revealed that India would require around US$ 1.2 trillion in next two decades to modernize urban structure Government’s relaxation of FDI policies has also made the real estate an attractive investment option and to keep the growing urbanization in pace. With few positive notes in the real estate sector in 2012, government took many measures in order to enhance the growth of the real estate sector in 2013.
The two key reasons behind the developing urbanization are the relaxation of policies in regards to real estate by the government and the expansion of industrial sector that indirectly gave rise in demand for residential properties and retail sector.
The residential segment is seeing high demand due to the set-up of many IT hubs and IT parks, MNCs and NRIs are also attracted by the Indian Real Estate because of the depreciating money.
With the development in peripheral infrastructure including hospitals, transportation, education and employment in the tier-2 cities, the growth in real estate industry would be witnessed in tier 2 cities and tier-1 cities seem to have reached an inactive stage.
The entry of large number of Fortune 500, other reputed companies, MNCs, and foreign countries would give rise in demand for corporate space. The real estate industry in India seems to be promising with demand in housing sector, commercial space, several township projects, and with a proposed project for the senior citizens across the country.
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