Real estate sector is a huge part of the Indian economy and it is the second biggest employer in India. Real estate in India is on the rise and the Indian market is one of the most preferred destinations in the world when it comes to investing. The sector is divided into 4 subsections – housing, retail, hospitality, and commercial.
Residential housing is in high demand currently. Especially with cities like Mumbai and Bangalore becoming IT hubs a huge contingent of young buyers are looking forward to investing in residential estates.
Rental properties have a high price when it comes to cities like Mumbai and Bangalore. With a high demand for flats and housing spaces across the city, the price soars even higher. Thus most people are not leaning towards buying their own space rather than paying rent. People prefer paying EMI for their house loans than paying rents to their landlords and this is a far better option. As paying EMIs even though a little bit high will still guarantee purchase on their own property. Hence people across metros are now starting to buy their own properties.
It works as a future investment as well and especially in cities like Mumbai where the property prices have been rising since the turn of the decade. It is not easy to purchase a property in Mumbai as it requires a lot of initial investment but despite the initial hassle purchasing a property in Mumbai is a guaranteed ROI buy for the future.
With more and more developments in the field of real estate the infrastructure for flats have also increased exponentially and hence developers and realtors are now providing state of the art properties at an eye-catching price. Premium facilities are developed with high-end infrastructure and amenities of the highest order. These suburbs are expensive but they are well worth the cost given the amenities provided.
The main conclusion is that properties are on high and it is the right time to invest in them. Especially in metros like Mumbai and Bangalore which seem to be growing every single day. It might pose an initial hassle but the returns are guaranteed.