The Reality of Real Estate in India

The realty sector in India has always been eyed upon not just by the domestic stakeholders, but also by some of the major international players. The real estate sector is expanding its horizon in the country, and the coming decade holds a massive growth at the rate of 30%, for the sector. If we talk about India, the country has always been led predominantly by the agricultural sector, but even the property sector has a big say in the success pursuit of the nation. We here have some of the less known facts about the realty sector of India, that might change your outlook on the sector, and enhance your knowledge about the real estate scene of the country. Second Largest Employment ProviderrnMany of us must be aware that the vast agricultural sector of the country serves most of the jobs to the people, but how many of us are aware that the real estate ranks second in the list? The sector employee more than 35 million workers, mostly belonging to medium and, lower skilled labor class. Leading Residential SectorrnAmong all the sub-sectors of realty, the housing sector that comprises various townships, condos, schools, colleges, hospitals, and schools forms the largest part of the sector. Most of the market value of realty sector is generated through the residential segment. Shortage Of HousesrnEven after the availability of 10.2 million vacant houses, there is still a shortage of 19 million houses in the country, mostly belonging to the economically weaker section. In the states like Maharashtra, Bihar, Uttar Pradesh, Gujarat, and Karnataka, the shortage is about 76℅, largely in the low-income section. Second Most Active SectorrnReal estate sector has emerged as the second most active sector in the country. The sector has raised revenue of $1.2 billion from private equity investors in the last one year, and the experts are projecting that the market will touch the line of $180 billion by the end of the year 2020. Mumbai- The Best For Commercial Real EstaternCompared to all the other cities of the country, Mumbai is considered to be the best for commercial property investment. The commercial property market in Mumbai promises a thick return of 12-19℅ in the next 5 years. The commercial property market of Mumbai is followed by Bengaluru and Delhi NCR in terms of ROI. Investment By International NamesrnNot just the domestic investors, the booming sector of realty is also attracting fancy FDI from various international investors. A globally renowned firm named Goldman Sachs has tied up with Kalyani developers, and is coming up with lavish housing project that will give shelter to good 9000 people in Bengaluru. A large sum of 1,200 Crores has been invested in the project. Snapdeal With Tata HomesrnSnapdeal has collaborated with the Tata homes, and will help Tata to sell off their lying inventory on Snapdeal's E-commerce platform. The news might sound bizarre as this is the first time; an E-commerce website has tied up with a housing firm. Government’s Huge SpendingrnThere will be 30 million new houses in the country by the end of the year 2022. No, we aren't exaggerating, In the Sardar Patel housing mission; more than 30 million houses will be introduced by the end of the year 2022 for the economically weaker section. The government is planning to take the help of a public-private partnership firm to accomplish the mission. The above listed, lesser known facts portray a clear picture of the boom in the realty sector. The strong areas are growing stronger while the less developed segments are coping up at a lighting pace. With the growth taking place at such a speed, there is no looking back for the real estate sector.