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Indian Real Estate Has Found New Sanctuaries of Growth
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Keeping pace with rapid urbanization and the growing economy, the Indian real estate sector has transformed over the last decade. The contemporary mix of assets in the construction sector accommodates novel concepts of dwelling and occupation. The triggers for these evolutionary changes have come from different platforms in the ancillary sectors and other variables which affect all the domains in the economy.
A brief of triggers which have transformed the Indian real estate;
Rules and Regulations :
1. The Real Estate regulatory bill for a transparent realty ecosystem
2. The upfront payment of housing loans to the developer stands barred
3. The disbursements of loan amount to be linked to the completion stages of the projects
4. A cheaper External Commercial Borrowing (ECB) in the affordable housing segment
5. ECBs made available to Housing Finance Companies without a rider of minimum paid-up capital (50 crore)
6. An agreement with World Bank for USD 100 million loan for low-income housing finance
The rulings discussed above have substantially enlarged the scope for asset construction in the realty sector for the coming future. The reviewed policies have also been encouraging for the contribution of new entrants in the real estate sector of the country.
Moving forward, another probe into the changing mix of assets in the Indian realty will enable a better understanding of the real estate and its transformed spectacle during the present times.
Emerging submarkets of growth in Indian real estate
1. Branded residential complexes on a rise in demand
2. Integrated and cohesive condominiums being preferred in the metro cities
3. Green and smart building solutions on a significant rise in the commercial realty sector
4. Senior citizen housing segment is being explored by the developers
5. Aerotropolises- the airport cities like Bangalore ranks high on the chart for FDI investments
6. More residential units are being developed in proximity of recreational zones
The triggers enumerated above, represent the contemporary mix of demand and supplies in the real estate market of India. The global exposure of Indian trade and commerce over the last few years has considerably overhauled the demand trends in the real estate sector. Today the home aspirers demand for the worth of fortune which comes with brand value and upmarket locations for their residences. Parallel to the branding, the amenities being offered by developers have become a prominent tangent for comparison amongst the available residential properties. The buyers have begun to seek exclusivity in terms of facilities, preferred locations, fixtures and furnishings in their would be homes.
The Indian real estate has been evolving into different directions with a persistent stride towards maturity and professionalism. The buying practices have also transformed with the dominance of professionally run brokerage firms which have completely changed the home buying experience for a common man, aspiring home. Today, the buyers are strengthened with a regulatory framework along with the favorable funding options and a plethora of choices catered to them by the brokerage firms. The real estate sector has been on a promising path of growth with the increasing brand recognition all over the world. In the present day, the Indian realty assets are high in demand by the FDI and NRI investors in all advanced nations of the world.
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