When it comes to real estate development, India has always been a little sceptical because of the previous record of this business. It is because of the fact that India is witnessing its own share of highs and lows as far as the property markets growth is concerned. The current growth of the real estate market is facing a sluggish market condition. This notion has also made way into developers mindsets and in turn has made them extra cautious while planning out any new project. While most of the developers are working towards achieving profitable growth, economic stability is one such thing that requires immediate attention from the overall industry.
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The economic indicators such as GDP, manufacturing activity, employment data, the prices of goods, etc affects the value and growth of the overall real estate sector. It means when the economy is sluggish so will be the real estate market.
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Governments role in real estate growth:-
The government has to play a vital role in the overall success of the real estate business of India. There should be right policy in place for the development of the real estate sector. Many policies introduced earlier were of great help for the real estate market. However, the scenario is absolutely opposite now as India is making way for a refined process of real estate expansion.
Interests Rates in India:-
The fluctuation in the key interests rates has a major impact on the real estate market. Changes in interests rates have a great affect on a persons ability to buy a home. Such economic changes make the sector less attractive to the home buyers.
Digital platform helping economic growth:-
Moreover, the growth of many property websites in India is boosting the real estate market and spreading awareness across the spectrum. The property websites in India are providing a sought after platform for real estate developers and buyers to make home search at ease. The websites provide perfect location, configurations and projects that will be a lucrative deal for investors and home buyers. All of the above mentioned factors are somehow contributing in building up the countrys economic condition, which is co-dependent on real estate in india. Without the real estate development, it will be difficult for India to grow its economic conditions as major foreign investment is flowing in to the sector from overseas.
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