There is a huge rush for investment in real estate in India. The reason behind the huge demand and inflation in real estate price is that India has become a hub for investment for real estate investors throughout the world. In recent years, Indian economy has really boomed and the outside world has appreciated the growth the country has made in every sector. Real estate sector is also one of those important sectors, which has seen growth by leaps and bounds.
It is difficult to determine the correct value of property because there is not a proper procedure that has been put in place in India to assess the value of properties. The price of a property usually depends on its location and the properties that are situated near popular market areas command higher prices as compared to the properties that are not situated near such places. Before purchasing a property in India, one should try to ensure that it is located in the vicinity of important facilities like schools, hospitals and markets, and is also endowed with the basic amenities of water, electricity and excellent roads around the property. Excellent accessibility with the railways, airports and the inter-state bus depots is also a very important condition that should be seen before investing in a residential property.
Before purchasing apartments or flats, you should also see that builders who are registered and have a good reputation building the properties. An investor who invests in a property in India can expect a huge amount of windfall gains if the property prices soar up due to reasons like construction of Metro near the property, inclusion of the property in a Special Economic zone or airport construction near the property. Sometimes, there can be an expected increase in the price of a property when a shopping complex is constructed near it.
The prices of Real Estate are booming in India and the property is available for all kinds of residential investors, right from condomiums and one-bedroom lodgings to lavish 3 bedroom apartments in Gurgaon. There has been a tremendous change in the real estate scenario in India especially in the metropolitan cities with large-scale commercial construction companies coming into the construction business, which are giving a very tough competition to the small-scale local construction agents. The government has also facilitated setting up of (SEZs) Special Economic Zones, IT parks and townships which has led to large scale urbanisation and availability of amazing real estate properties equipped with all the requisite modern facilities.
- Top 10 investment options
- Entrepreneurs are our 'Growth Ambassadors', will make India a better place to do business, says PM Modi
- ET Exclusive: Will make India a better place to do business, says PM Modi
- 7 quality growth stocks at reasonable prices
- I'm not a Russian asset! Tulsi Gabbard makes bizarre boast during 2020 debate as she accuses U.S. of trying to fight 'regime change wars' in the Middle East
- Phase cyclic, Congress will emerge stronger: Manish Tewari
- Arrested in PMC fraud, Rakesh and Sarang Wadhawan were once the darlings of Mumbai’s social circles
- Liquidity will improve gradually as we enter August: Rajesh Kothari, AlfAccurate Advisors
- We have 38% stake in Bajaj Consumer now, will take it past 51% over time: Kushagra Bajaj