In India, the reforms programme has been going on for past one and a half decade and in the process it has led to a phenomenal growth in several sectors like IT, ITES, Telecom, etc. All economic indicators are pointing to the India Property market as the next growth story.

Facts speak for themselves. The growth in the India Property sector is all round with hardly any element of the value chain being out of this “being on fire” trend. The real estate sector is perhaps the most recent one to join the coveted list of sectors which have taken off in a major way and all slated to hit the stratosphere in the years ahead. It indeed has the capacity to display “sky is the limit” syndrome and this is what it has begun to display in India. 

Be it housing construction, malls, state-of-the-art office complexes, mid-sized retail stores - the rapid fire development can be seen all around especially in locations which have come up as commercial hubs. New concepts in construction like specialty malls or weekend property have barged in much sooner than expected and they are adding new dynamism to the Indian Property sector on a consistent basis. Some of the key reasons which are driving the growth of the Indian real estate sector could be summed up as:

• The emergence of several satellite towns around prominent metropolitan cities as commercial hubs (like IT, ITES),
• Increasing spending power of Indian consumers,
• Supportive policies of the central government and several state governments.

The icing on the cake is: the property development in India is now no longer metro centric rather it is moving to Tier 1 and Tier 2 cities and within a time span of next 5-10 years, the entire landscape of urban and semi-urban locations in India is slated to change in a way that will be unbelievable. Government’s recent approval of development of over 100 Special Economic Zones (SEZs) is expected to provide another shot in the arm of the real estate development in the country.

All in all, the real estate bandwagon which has just picked up momentum in India is all slated to shift to top gears soon. A proof of this gathering momentum theory is the substantial spurt in the property price in last couple of years in several locations like Gurgaon, Navi Mumbai, etc. where the valuation has just doubled. And present frenzied real estate demand in India confirms that these properties will continue to remain a gold mine for quite sometime.