On August 19, 2011, Prabhakar Sinha, of The Economic Times, reported that investing in commercial and housing projects is still the best bet despite the global meltdown. The demand for housing projects in India has not deteriorated as compared to its global counterparts but has in fact increased significantly over the last few years.
Anshuman Magazine, the managing director of global reality consultant CB Richard Ellis comments on the property market in India. He says that ?on the whole, because of domestic demand driven market, the recent developments in the international front will provide good opportunities to homebuyers to fulfill their aspirations to own a house.? The Indian economy, despite its marginal slowdown, is still one of the fastest growing economies of the world. Its growth rate of 7.5% will not only reduce the impact of global slowdown but also make India one of the best investment destinations in the world.
Reasons Why to Opt for Housing Projects in India
There are several reasons for investors to prefer housing projects in India. Read on to find out why:
Anuj Puri, chairman and country head of Jones Lang LaSalle India, says that mid-income residential real estate makes a lot of investment sense. Thus, for long-term investors, residential real estate is quite a lucrative proposition. Housing projects in India have been known to offer competitive prices to buyers as several new infrastructure companies have come up. Property prices have steadily increased through the last decade giving investors better rental and capital values.
The Indian economy has withstood the global turmoil of recession and has managed to create a niche for itself as one of the world?s most stable and developing economies. India is further expected to grow as one of the largest economies in the world with China. It makes sense to invest in such a buoyant economy to reap financial benefits.
According to a report released in October 2010 by Cushman & Wakefield, 240mn sq. ft. of commercial property and about 4.25mn units of residential property will be required to meet demand over 2010-2014. Residential property has seen increasing demand over Q210 and Q310. However, supply has been relatively low because of reduced construction activity during 2009-2010. Consequently, demand is expected to be three times the supply in 2010-2014. The rising demands will make retail and housing projects in India a scarce and valuable commodity in the years to come.
While India is currently witnessing a boom in real estate, it is advised that buyers purchase through established brands. RODAS Enclave is one of the most prestigious housing projects in thane by the Hiranandani group. You can contact them at Rodasenclave.com for further details.