The Indian realty sector has evolved over the last few decades and has come a long way in becoming one of the fastest growing markets globally. The growth of the realty sector in India is attributed mainly to low ownership in residential housing as compared to developed countries, increasing income level, large population and rapid urbanization. The sector is now increasingly attracting investments from within the country as well as foreign investments from institutional investors, nonresident Indians (NRIs) and people of Indian origin. In addition to this, there is increased foreign funding from countries like United States of America and Germany, which have agreed to develop three smart cities each in the country plus there are huge investments to the tune of 1 billion dollars, coming from Asian countries like Japan and Singapore.
Over the past decade, the realty sector has transformed from being unorganized and cluttered to more dynamic, organized and tech driven with the rise of online real estate portals like Housing.com. This site not only lets you to post free ads for rent but also enables you to undertake any realty transaction with a click of mouse. The last couple of years have seen big transformation with most realty processes going digital.
Real Estate Sector will get more Investments from Nonresident Indians (NRIs)
As per a recent survey by industry body, it is expected that the real estate industry in the country will witness increased investments by NRIs. There has been a 35 percent increase in the number of enquiries by NRIs with most of these coming for Bengaluru. This is followed by Ahmedabad, Pune and Chennai. Attractive valuations, friendly government policies and the depreciating rupee will play a key role in increased investments from nonresident Indians.
Foreign Direct Investment will take the Real Estate Business in India to New Heights
The realty business in India is directly proportional to the growth of infrastructure in the country. With several big initiatives already being implemented by the NDA government to boost infrastructural growth, the Indian real estate market is expected to surpass 170 billion dollars by 2020. As per the data from Department of Industrial Policy and Promotion, also known as DIPP, the country received more than 23 thousand million dollars of FDI in construction sector over the last fourteen years (April 2000 to September 2014). This figure is expected to be around 25 billion dollars in the next 10 years, all thanks to relaxed foreign direct investment norms by the Modi government. Thus FDI is expected to lead the realty growth in the country.
Digitalization will Lead the Property Growth in Coming Years
The coming years will see most of the realty transactions going digital. This is expected to bring in more transparency, will lead to faster transactions, avoid frauds, create more jobs and bring in the much needed liquidity in the sector. Some of the players have already made their name in the online real estate business and are expected to be growth drivers in this domain over the next decade. As a retail investor, it is best to transact through such online sites. However, in doing so you must ensure that you go with the portal which is best in business. It is easy to identify the leading online real estate portals currently in India. You just have to enter the commonly used property search keywords like sell online or sell property online in search engines and then select a branded name like Housing.com that comes up in the first two pages of search results.