Booming of Indian Real-estate Market

The Planning Commission of India defines Real Estate as land, including the air above it and the ground below it, and any buildings or structures on it is referred to as realty. The Indian real estate and construction industry plays a vital role in Indian economy and is a crucial part in the development of our nation’s infrastructure base. The real estate covers suburban housing, viable offices, trading spaces such as theatres, hotels and restaurants, retail outlets, industrial buildings such as factories and government buildings. The real estate sector comprises of housing and construction sectors that involve the owners, builders/developers, investors and buyers.

Real estate business consists of dealings, such as buying, selling, and expansion of land/properties, residential and non-residential buildings.  People who mainly involve in realty business are called as proprietors/the land owners, developers, builders, real estate agents, tenants, buyers etc. Indian real estate has substantially seen growth with healthy economy accompanied with a series of Initial Public Offerings (IPOs) by property firms as well as investments by NRIs in Indian Real Estate Market.

Real estate has been a booming sector in India with the arrival of MNC and foreign companies along with NRIs investments. Indian real estate industry has seen exceptional growth over the past years. Mr. Manish Agarwal, Managing Director, Satya Group & Hony, Secretary CREDAI NCR says that the Indian Real Estate is driven by the land owners, developers/builders, tenants, and buyers because of the opportunities offered in the market.

As the real estate sector developed, many realty associations were also formed one of which is CREDAI Bengaluru, functioning in Bengaluru for 30 years with 218 reputed developers as its members in the city and 450+ developers across the State.  The CREDAI organizes realty expo, which has become one-stop for all the property buyers and investors who are looking to invest in prime properties from trusted members of CREDAI. With both foreign companies and NRIs investing in India, the real estate is definitely a promising career for both the builders, owners, developers and the buyers to make some real profit. Currently the business in Indian real estate is estimated to be US$ 16 billion with a CAGR of 30%. The latest report by Cushman & Wakefield shows that India is ranked 20^th among the top global markets for real estate investment in 2012 with investments worth US$ 3.4 billion during the year.

As both international and national developers in India are penetrating deep into the cities, India’s government and regulatory authorities are working to improve the market transparency. The Real Estate Regulation Bill is regarded as a key policy that is expected to improve India’s transparency score, which will be scheduled later this year. Despite slowdown in the economy, the real estate sector continued to rise and overall improvement was seen in major 11 cities, which shows that the Indian Real Estate business is definitely booming.