In modern times, acquiring a patch of land on this earth for the purposes of ‘ Shelter ‘ became the secondary reason for doing the above a long time ago. Ever since basic economics came into existence, acquiring any type of real estate became closely if not only associated with a symbol of ‘Stability’, ‘Status’ and ultimately a ‘Legacy’.
The real estate criteria selection in the times of our ancestors used to be access to ‘fertile land’. Now it has evolved into an array of requirements, from access to nearby schools, banks, hospitals, A Luxury Apartment instead of Land, value of the surrounding areas etc., We are definitely living in interesting times with respect to the real estate market.
By 2040, the real estate market will grow to INR 65,000 Crores from INR 12,000 Crores from 2019. The real estate sector is expected to reach US$ 1 trillion in market size by 2030, up by US$200 billion in 2021, and will contribute 13% to the country’s GDP by 2025. For both commercial and personal reasons, Real Estate in India will be the next boom in the coming decades.
Under the ambitious Pradhan Mantri Awas Yojana (PMAY) scheme of the Union Ministry of Housing and Urban Affairs, the Central Government is aiming to build 20 million affordable houses ir urban areas qacross the country by 2022. As per the Anarock report, between January - September 2021 the residential sector saw a hike of 27% than the full year of 2020.
In october 2021, The RBI announced to keep benchmark interest rates unchanged at 4%, which gave a major boost the real estate sector in India. All of these facts and statistics prove the that real estate is the next boom in India and it we strongly recommend that you secure position on this tidal wave before it is too late. Our highly knowledgeable and experienced consultant at Shree consultant will be more than happy to service you for the same.
1. https://www.ibef.org/industry/real-estate-india