Everyone has the dream to have a house.
And it is such a scenario where so many people now have started living in nuclear families.
Break-ups in joint families during last few decades promote the people to buy home and apartments for their own.
In the last few decades, the income of middle class people is rising.
Apart from the income factor, low interest rate on bank housing loan and young generation's modern thought for house ownership are some basic reasons for development in the real estate industry.
Real estate is such an industry which is blooming very vastly during the last few decades.
The growth of this industry has moved to 35 per cent, which is estimated about US $ 15 billion and in future decades it is expected to grow at 30 per cent annually.
It shows that people will be influenced towards this sector.
After the year 1995, large number of business groups, IT companies and BPOs have moved to Indian market for establishing their offices, hotels, factories, workshop.
This has given a huge boost to the real estate market.
In India this industry is engaged in residential and commercial constructions.
Commercial property is especially designed for business, industrial and institutional activity for generating revenue and profits.
And residential property is for residents only.
Delhi and NCR, Mumbai, Kolkata and Chennai are such metro cities where it has worked beautifully.
Prices of property, houses, apartments, offices are moving higher, because of progress in the realty sector.
Infrastructural development of any country depends on its realty sector development.
For introducing foreign companies, hospitals, schools, townships, offices the country needs development in the realty sector.
India's economy is a developing one.
And Reality sector forms 5-6 per cent of the Gross Domestic Product (GDP).
Large scale investment, rapid urbanization and Foreign Direct Investment (FDI) are contributing to the growth of real estate sector in India.
Government also promotes the international business groups to invest in this industry.
It is such an industry where so many of job opportunity exist and it promotes several different industries like glass, iron, cement, paint, steel etc.
After the introduction of of international business groups in realty sector market prices of property are scaling newer and newer heights.
They offer as much cost as a property owner demands.
When the prices of property in metro cities are very high they are moving to smaller towns.
Every middle class family has the dream about their own home.
Housing Loan is provided by the banks and various financing companies.
They issue home loans for purchasing of house, building and apartment, against some securities and these securities are Life Insurance Policy assignments, guarantee from one person to another, share deposits.
The maximum amount of loan for purchasing and constructions in rural areas is Rs.
25 lack and for semi-urban, urban and metros is Rs.
100 lacks.
Bank and financial institution also check borrower's financial status.
After that, loan provided by them covers about 80-85 percent of the total cost of home.
Banks like State of India, Punjab National Bank, ICICI, HDFC bank etc.
, are such banks which provide Housing Loan to those people who want loan for purchasing a home.
Interest rate of these banks are very user friendly.
And it is such a scenario where so many people now have started living in nuclear families.
Break-ups in joint families during last few decades promote the people to buy home and apartments for their own.
In the last few decades, the income of middle class people is rising.
Apart from the income factor, low interest rate on bank housing loan and young generation's modern thought for house ownership are some basic reasons for development in the real estate industry.
Real estate is such an industry which is blooming very vastly during the last few decades.
The growth of this industry has moved to 35 per cent, which is estimated about US $ 15 billion and in future decades it is expected to grow at 30 per cent annually.
It shows that people will be influenced towards this sector.
After the year 1995, large number of business groups, IT companies and BPOs have moved to Indian market for establishing their offices, hotels, factories, workshop.
This has given a huge boost to the real estate market.
In India this industry is engaged in residential and commercial constructions.
Commercial property is especially designed for business, industrial and institutional activity for generating revenue and profits.
And residential property is for residents only.
Delhi and NCR, Mumbai, Kolkata and Chennai are such metro cities where it has worked beautifully.
Prices of property, houses, apartments, offices are moving higher, because of progress in the realty sector.
Infrastructural development of any country depends on its realty sector development.
For introducing foreign companies, hospitals, schools, townships, offices the country needs development in the realty sector.
India's economy is a developing one.
And Reality sector forms 5-6 per cent of the Gross Domestic Product (GDP).
Large scale investment, rapid urbanization and Foreign Direct Investment (FDI) are contributing to the growth of real estate sector in India.
Government also promotes the international business groups to invest in this industry.
It is such an industry where so many of job opportunity exist and it promotes several different industries like glass, iron, cement, paint, steel etc.
After the introduction of of international business groups in realty sector market prices of property are scaling newer and newer heights.
They offer as much cost as a property owner demands.
When the prices of property in metro cities are very high they are moving to smaller towns.
Every middle class family has the dream about their own home.
Housing Loan is provided by the banks and various financing companies.
They issue home loans for purchasing of house, building and apartment, against some securities and these securities are Life Insurance Policy assignments, guarantee from one person to another, share deposits.
The maximum amount of loan for purchasing and constructions in rural areas is Rs.
25 lack and for semi-urban, urban and metros is Rs.
100 lacks.
Bank and financial institution also check borrower's financial status.
After that, loan provided by them covers about 80-85 percent of the total cost of home.
Banks like State of India, Punjab National Bank, ICICI, HDFC bank etc.
, are such banks which provide Housing Loan to those people who want loan for purchasing a home.
Interest rate of these banks are very user friendly.