Events of property in India
India has steadily picked up the phenomenon of property boom worldwide. Currently property sales are growing at an astounding speed and action in the country. Already developers of outstanding repute have lapped some of the best properties in India. However, it would be prudent to add that lots of small time investors too have joined the bandwagon to make it the success that property mart today is.
Recent surveys have shown that India has the right environment that offers maximum benefits to its property investors. The country has a stabilized political environment with a huge emphasis on rule of law. Moreover, most of the institutions that go into actual nation building are firmly in place. Given the huge success story that IT has come to showcase and the tremendous economic strides India has made in the past decade, the country has become the numero uno investment hub when it comes to property. Not surprisingly, as per a recent UNCTAD (United Nations Conference on Trade and Development) report, India is among the top four Asian destinations for foreign direct investment.
In the past, investments in India were traditionally limited to residential, land services and commercial property, with a specific number of businesses to name. Over a period of time, new vistas have opened in areas such as commercial land, agricultural land, land for schools, hospitals or resorts, land for houses, shopping malls and more. Now investors can select from the large geographical expanse — that India has opened upto. The choice is still alluring — From India’s commercial capital Mumbai and other important metros such as Chennai, Kolkatta, Delhi or Bangalore to smaller cities such as Indore, Jaipur, Ahmedabad, Hyderabad or Coimbatore. There are possibilities galore.
Experts would vouch that it makes ample sense to invest in Indian property sector now because a very few countries offer the kind of social, economical and political environment that India does. With the growing incomes and increasing purchasing power parity of an average Indian, the mushrooming of malls and leisure tourism have come up in a big way. The boom is only expected to grow.
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