Indian Real Estate Market - Showing an Upward Trend
The real estate sector in India is on a growth path. The development in the real estate market encompasses growth in both commercial and residential spheres. The Indian economy is booming with an annual GDP growth rate of 8.5- 9% creating a class of potential investors with significant disposable income. As housing remains a concern in major metro cities, sufficient demand generators for residential units are there for the next decade and expect prices to rise 10-15% in India in next five years. The Indian Property Market has been growing fast since March 2005, when the current UPA government decided to open FDI in Real Estate. Further, it has been estimated that there would be huge shortage houses in next 7-10 years, which provides a big investment opportunity. The popularity of the Indian real estate sector is also highlighted by a report ‘Emerging trends in Real Estate in Asia Pacific 2011’ published by ‘Price Waterhouse Coopers’ and ‘Urban Land Institute’. The report focu