In a country where there is traditionally the predominance of the agricultural sector, that sector continues to be greatest source of employment generation. The Indian real estate sector is the second largest employment provider in the country. This sector significantly contributes to the national income and Gross Domestic Product and it is expected there will be an average 10% increase annually in this sector.
The recent slump in the property market in India consequent upon the global economic downturn is reported to be fading away and the industry is projected to register considerable growth in the coming years.
"Economic recovery during 2010-11 is likely to reinvigorate the interest of foreign investors in India's real estate market. We expect enhanced capital inflow in the real estate sector in the medium to long term".
Again, Jones Lang LaSalle report says, that the faster economic growth of the nations like India, China, Brazil and Russia will pave the way for faster recovery of the real estate sector in those countries when compared with countries like the US and the UK. The Indian property market will be in an upswing from the last quarter of2009 and over the next 5 years and the industry will attract up to US $ 12.11 billion investment.
It is estimated that organized retail marketing sector will be in need of an additional 220 million square feet space by 2010 in addition to the requirements of I.T. and ITS organizations. This growth momentum will sweep across all tier 1 and tier 2 cities.
In the construction industry, the Indian companies are making higher profit for their projects when compared with their US counterparts. Indian construction firms are making on an average 18 percent profit while the US companies are making much less than that.
The foreign institutional investors are very much confident of investing in Indian real estate and there has been a whopping 400 percent increase in the past six months.
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