Trends in Real Estate Domain
It is a fact less known that the Real Estate Sector happens to be the second largest employer, employing more than 50% of youth, after agriculture, in India. Starting initially from the Metropolitan cities in India, it had gradually expanded its tentacles in the small cities as well. It is also interesting to underline here that the Real Estate happens to be the fourth largest sector in the country when it comes to Foreign Direct Investment. After the pandemic hit the entire globe, multiple sectors had relegated to a critical financial crisis. Real estate sector, however, remained, by and large, unaffected by the unpredictable nature of the market.
If we throw a quick glance at the current scenario that is dominating the Real Estate market, we will see that it is contributing more than 16% to the GDP of our country. It is expected that this ratio will keep on expanding in the next five years consistently. Since a lot of commercial and residential properties are vacant due to negligible interest from the buyers from the mediocre strata, the experienced and well informed investors can actually get lucrative deals at this time as the market is highly ebullient with brilliant opportunities. The survey also suggests that in the next five years, there will be a demand of more than 6.4 million units for housing. Needless to say, the people who are able to identify the right deals at the right time will benefit exponentially in the long run. More and more people are taking interest in understanding the dynamics of the market as the real estate sector has demonstrated great stability in the precarious times during and post corona pandemic.
Towards the conclusion, it is also imperative to highlight that the reports only talk about growth, trends, opportunities and governmental regulations while talking about this sector. Moreover, due to technological advancements and more foreign investment, the Indian market is developing itself to suit the global requirements. Interestingly, this tertiary sector is also giving more and more employment at variable scales to diverse sets of job- seekers. Keeping this context in mind, it will not be wrong to deduce that the growth of the real estate sector is almost directly proportional to the growth of the entire country.
