India's_Property_Market

India's_Property_Market

06/09/2018
India's Property Market
Blake Anderson Blake Anderson
The Indian property market went through a complete make over after 90s. Before this owing a house was a mere dream for the common man due to a sky touching Tax structure and majestic cost of property. With these circumstances people preferred rented houses over owing one.

It was year 1995 after which the country faced a major change in Indian Property market. The major reason behind the change was the increase in the incomes of the common man. This gave them an opportunity to save and build homes in India. The process was further improved by availing a cheap home loan scheme in India. The peer banks offered low interest rates in competition among themselves. The presence of nationalized and co-operative banks also made the offer more interesting.

In the early days, Mumbai people looked for building a home in the urban areas but with the development in the expressways and infrastructure, the pattern changed and suburban development came in action. The development in the Navi -Mumbai area made this place a top destination to build houses. Since then the country is facing a spectacular development in the suburban areas and these are the places becoming more vibrant than the urban ones.

Now the Indian property market is going through a new pattern where people are looking for property in better rated cities like Bangalore, Hyderabad and Delhi as against the top destination, Mumbai. The reason is poor development pace in the urban areas.

Talking of the commercial segment, the Indian property market is leaving a pressure on rentals owing to the quality supply in the segment. Now if you don't supply good condition to the Tenant, they will move to other better options available in the market. Indian Property market is also going through a malls era where the superior building quality is keeping a bigger stress on the renter.

The Indian Property market is strikingly in the top three fastest growing segments in the Indian economy. And now the growth in this segment is even more prominent and thus we find improvement everyday. The credit to this growth goes to the Foreign Direct Investment and government policies which are the main pillars of this segment. The supportive policies from government were the reason for a change in the story of Indian property market and it still makes a major reason behind its progress. Without it the country would have never seen an improvement in the Indian property market.

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