Indian properties, of course, are zooming in these days and riding a surging wave of growth. A large number of Indian real estate companies are entering this sector to take advantage of the opportunities. Indian properties are a booming sector for home seekers or real estate investors. Indian real estate is growing rapidly and also contributes to the economy of the country.
After a slow start, foreign direct investment in Indian properties is poised for rapid investments of over US$10 billion, likely in the near future. The real estate magnetism in India is undoubtedly attracting international investors to invest millions of pounds in Indian properties. From financiers and consultants to construction companies and developers, real estate in India is witnessing a huge shift in its operations.
For Indians Living Abroad (NRIs) and People of Indian Origin (PIOs), investing in properties in India is emotionally rewarding and financially rewarding as it helps them maintain their attachment to their homeland.
Kolkata was once considered to be one of the cheapest cities in India but today the development in Kolkata has gone for an absolute transformation. It has shown significant improvement in all areas of real estate i.e. manufacturing, residential, retail and commercial. It has completely got rid of the impression of a lazy city and rises as a sparkling city. Real estate Kolkata is on an advanced track as big developments are happening in the city.
With many multinational corporations settling in the city, an unexpected increase in the number of potential property developers could be seen. They aim to maintain global subsistence standards even while spending more money and using other resources. Kolkata’s housing market is booming as it welcomes redevelopments and new constructions. Fresh suburban areas with new properties which include South Suburban City, South Dum Dum, Hügli, etc. It forms a hub for the northeast region of the country and is therefore a key location for all commercial and retail activities.
The introduction of international companies is having an impact on Mumbai’s property values. The arrival of multinational corporations, information technology companies and other large organizations in Mumbai has resulted in the hidden demand for luxury and high end properties. The professional staff of these organizations receive high salaries, so they want fully furnished luxurious houses instead of regular apartments and affordable accommodation in Mumbai.
New developments such as the arrival of Airolo and the extension of motorway roads have also stimulated the need for land near these areas. Property prices in Mumbai in places such as Bandra have also increased. Land costs have already hit Rs12000/per square meter in adjacent areas, where financial banks and Infosys have their offices. Many non-resident Indian investors buy land here for investment purposes, thus contributing to the development of the country.