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Real Estate Trends in India

Real estate in the Indian scenario is getting bigger and better day by day, fired by the ever-increasing influx of funds.

PricewaterhouseCoopers reports reveal that the real estate sector in India will continue to derive its growth from the booming IT sector, since an estimated 70 % of the new construction is for the IT sector. Apart from the IT sector, the basic need for modern real estate would provide remunerative opportunities for investments.

Active Participation of Retailers

Retailers in India are considered as the most aggressive in Asia when it comes to expanding their businesses. They are creating a huge demand for real estate. While most funds were initially floated by financial Institutions or banks such as HDFC, ICICI Bank and Kotak Mahindra Bank, real estate developers like DLF Universal and even retailers such as Pantaloon have now entered the arena and are creating more retail facilities. Most of the funds floated in the recent past have received a strong response from investors. Reports suggest that over the past six months, about $500 million has already flowed into the real estate sector, adding that the flow may rise to a massive $7-8 billion over the next 18-30 months.

Indian Real Estate – Hot Spot for Investors

Real estate in India is one of the fastest growing sectors, yielding an average growth of 10-12% every year with a tremendous upsurge in commercial real estate. Research shows that the housing sector has been growing on an average of 34% annually resulting from a voluminous demand for quality infrastructure.

Liberalization coupled with the advantage of repatriation of capital invested and rentals, dictated by the RBI have fuelled further NRI investments in real estate. NRIs are free to repatriate their current earnings in India such as rent, dividend, pension, interest and the like in foreign currency based on appropriate certification. Online banking in India and exclusive accounts for NRIs have made it easier for them to transact and invest in India.

Although the initial real estate boom was concentrated in cities such as Bangalore and the National Capital Region of Delhi (including Gurgaon), demand has spread substantially outward. Southern states and the capital area continue to attract the majority of IT/ITES and BPO investments, but secondary cities such as Chandigarh, Indore, Kochi and Kolkata are now emerging as destinations due to their cost and infrastructure advantages.

Various factors like increasing income levels, strong economic growth, development of strong retail lending mechanisms and the urge to invest and develop homes are all driving the real estate market in India.

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