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Rahul

In: Other Topics

Submitted By rahulkarule
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The term ‘real estate’ is defined as land, including the air above it and the ground below it, and any building or structures or structures on it. It is also referred to as realty. It covers residential housing, commercial offices, trading spaces such as theaters, hotels and restaurants, retail outlets, industrial building such as factories and government buildings. Real estate involves the purchase, sale and development of land, residential and non – residential buildings. The main players in the real estate market are the landlords, developers, real estate agents, tenants, buyers etc. The activities of the real estate sector encompass the housing and construction sectors also.

The real estate sector in India has assumed growing importance with the liberalization of the economy. The consequent increase in business opportunities and migration of the labour force has, in turn, increased the demand for commercial and housing space, especially in residential segment.

The real estate sector has emerged as one India’s largest drivers of economic growth. The real estate boom in India was inextricably linked to the country’s economic stability, which had made India a preferred investment destination. India is on the verge of becoming one of the fast-growing economies, driven by many factors including multinational entrepreneurialism, local stock markets, robust economy-changing demographics and the overall emergence of India on the global stage. With great demand for housing for India's huge population and for residential, commercial and industrial premises for its booming economy, large-scale real estate projects were launched across the whole country. This transformed the real estate business into one of the most lucrative sectors in the country. A sector which attracted venture capital, and diversified sources of funding including overseas and private domestic...

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