Indian Real Estate Industry

Bangalore s a Cosmopolitan city with growing migrant population is all setting a high demand for real estate. It s not only the techies who have generated this new wave but also the migrant population coming in search of entrepreneurial opportunities. The depression is agricultural sector is forcing people to find other means for survival. This is the reason for increase in migration.

The demand for real estate is rising in 3 sectors:

»Residential Property

»Retail Malls

»Office Space

Residential Property

The demand for luxurious as well normal residential property is soaring high even if the prices are high. The demand emerges from both from residents and NRIs. The prices of luxury apartments ranges from Rs 80-90 lakhs where as pent houses are quoted at Rs 1 cr. Real Estate developers also face stiff competition. Shobha Developers, Purvankara etc all working on new projects with international standards.

Retail Malls

The new age of retailing concept is sweeping the shoppers across the country. Foreign Direct Investment (FDI) in retail is still a far cry. The demand for retailing is mushrooming from the fast changing life style. Lack of adequate land area in the heart of cities has now been a boon to suburban areas. So it also contributes to balanced growth in cities. The mall development design and construction are critical factors that determine its success. Malls has been emerging as a place for social gathering and for entertainment as the present day work pressure hardly leaves time for meeting friends and relatives in a traditional way.

Malls are offering a basket of brands and myriad experiences. Malls infact are a reflect of whole social and life ethos. The Forum, Sigma Mall, Eva Mall etc shows the success of Retail malls.

Office Space

The growth in IT and ITES sector continues to drive the demand for office space. Large investors focus on office/residential as opportunities are investor friendly than retail sector.

Vacancy level in office space is declining. The trend for office spaces is the sizzling glass and chrome combo. A building with the state of art exudes a sense of professionalism and durability. From malls to offices everyone wants to ride the class of glass wave.

So the real estate industry is booming contributing to economic growth….....