Indian real estate market is booming and
gradually India is turning to be a hot piece of cake in terms of investment
in residential real estate property and commercial real estate property. As
the trends change, many people of Indian origin, even second generation
NRIs, opt to purchase vacation homes near their relatives' residence, as
they want to be independent during their stay in India. This trend has
further pushed up the demand for flats in Delhi, Mumbai, Lucknow and Kanpur.
Besides residential real estate property, many NRI industrialists are
seeking commercial real estate property in suitable locations for their
India operations.
India with her deep cultural roots has always been calling her sons of the
soil to come back and settle in their own land. Today, India being a
software hub has no dearth of opportunities. It offers to accept any
culture, any lifestyle, any civilization. In fact, since ages many cultures
have been assimilated into the culture of our country. The country, in spite
of accepting so many cultures, is still able to retain its quintessence. It
is the land of cultural diversity that nourishes every culture and offers an
opportunity to lead any lifestyle in terms of values, opulence, luxury et
al.
Real estate in India has got a boom. The stage is now set for the housing
and infrastructure sector to steer the growth engine. Indian government has
initiated measures to relax the real estate and property rules. Real estate
dealings have become an easier affair.
Some of the measures that the govt. has taken recently:
- Dismantling of stringent rules
- Relaxed property tax
- Less stamp duty if the property is registered in the name of a
woman
- Allowing FDI in the real estate industry
- Abolition of section 37(i)
- 100% repatriation allowed for NRIs investment in the country
- Tax reforms designed to drive investments in the housing sector
- Sliding interest rates
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