Due to rapid urbanization, positive demographics and rising income levels, the Indian real estate sector has attracted significant investment over the past few years. The contribution of the real estate sector to India’s gross domestic product (GDP) has been estimated at 6.3% in 2013 and the segment is expected to generate 7.6 million jobs this year. While housing contributes approximately 5%–6% of the country’s GDP, the retail, hospitality and commercial subsectors have also grown simultaneously, meeting the increasing infrastructural needs.
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. This growth can be attributed to favourable demographics, increasing purchasing power, existence of customer friendly banks & housing finance companies, professionalism in real estate and favourable reforms initiated by the government to attract global investors.
•There was a time when getting any kind of real estate work was a headache for the consumer, because of the sheer amount of labour involved in wringing the right hands for the documents to pass. Alternatively, escrow services would consume a significant share for services rendered, if a helping hand was requested.
•foreign investment and private equity funds have become a cool source for cash for developers who cannot rely on the banks to bail them out anymore, owing to a pre-existent, fat ledger. A strong growth in the GDP in the past few years, governmental reforms and an incrementing positive turnover have attracted a slew of foreign investors, looking to gain entry into the finance-deprived, potential Indian real estate market.
•The lack of fruitful, profitable, complete project brought in the urgency of staying solvent, when a lot of individual real estate developers went bankrupt due to the lack of sales in real estate. The real estate market was compressed in size when multiple heavyweights joined forces and collaborated to pool in resources.
• due to the recent reforms introduced by RERA, the Indian real estate market is witnessing a lot of investment or joint venture bids from foreign investors and private equity owners.
Sanali group is one of the most valuable and trusted real estate development companies. It is a pioneering developer of many high profile projects. The sanali group has achieved proven competencies in property, IT parks, shopping malls and retails and hospitality and leisure.
Also Read - Role of real estate sector in Indian economy
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