The Indian real estate has always played a significant role in the country’s economy. The real estate sector is the second best to agriculture when it comes to employment generation and GDP. Almost 5% of the GDP is contributed to the housing sector.
For the FDIs, India has always been the favorite destination. This is owing to the various developments that are taking place in major metros – Mumbai, Delhi, Chennai, Bangalore, and Kolkata. Various factors are responsible for this growth.
1. Steady expansion of IT sectors all over the country, especially Bangalore.
2. The adoption of the FDI policy.
3. Easy access to bank loans.
4. Rapid growth of Indian economy.
Not alone Indian investors, but NRIs are also showing increasing interest in investing in real estate in India. The splurge of luxurious apartments, extravagance of comfort, amenities that are unrivalled, and an unsurpassed element of lifestyle that is portrayed is responsible for NRIs to turn property buyers in India.
Ever since the real estate development has taken an unprecedented pace, people from various countries are also seen taking interest in owning plots, sites, etc. in India.