Success of Real estate in India

India known as one of the leading developing countries is progressing in all the various fields. The innovation in technology has led it with growing popularity in the grounds of infrastructure and IT sectors. Today, the country has touched with new height in real Estate business. With the growing population, there has also increased in covering the living areas. At present, most of the important cities are indulged in the business of real estate. Tall buildings have now become most common view in the urban cities. It is a known fact that almost every individual considers real–estate business as the best form of investment after securing his job or family. Buying a home or plot was just the last option for a person after his retirement. But toady the scene is changed, dealings in land properties have now become a good source of income for its dealers. Reason being the growing demand and rates of these plots and places.

However, the real estate business is considered one of the businesses with corruption involved. This represent as a disadvantages of this sector because of its grey shades. The poor reputation related to its transparency and governance has fallen the name and fame of this segment. In spite, of all this according to 2012 data, the industry of real estate business has contributed 6.5 percent of the country’s GDP (10.5 percent in 2010-11). The business of Real Estate has now become second largest employment generator in India after agriculture. The total revenue earned by this sector was estimated about $66.8 billion in the time period from 2010-11. It has been expected that the industry would earn about $180 billion of revenue by 2020. 

One of the basic reason for the growth of this industry is the growing population. According to the reports collected by the researchers, it is estimated that 31 out of every 100 people are residing in cities or towns, this evaluates about 377 billion of people living in urban areas. The existing Population may increase to 590 million in 60 cities by 2030 thus, giving high bounce to this sector. Some of the renowned builders of real estates are DLF, Unitech Real Estate, Omaxe, Ansal API, Ambuja realty Group, Oberoi Group, Supertech, India Bulls Real Estate and many more. The Real Estate Business is most prominently found in the cities like Noida, Mumbai, Chennai, Bangalore, Hyderabad, Kolkata and various other cities.