In India, the real estate sector is the 2nd most prominent source of employment after agriculture. It contributes about 10% of the nation’s GDP, and the real estate sector is expected to grow approximately 30% in the next decade.
Undoubtedly, the Indian real estate sector is one of the fastest-growing sectors in India. With its famous, recognizable structures and changing market gestures, this sector gains a lot of attraction for buyers, developers, and builders worldwide.
This sector can give you a high return on investment compared to other sectors in India.
Is this your sector of interest as well? If so, we, Affordable Home Gurgaon, are coming up with 10 Amazing Real Estate Facts about India.
So, please read our article thoroughly; it will help you to understand some fantastic Real Estate facts about India that will help you to get a proper understanding of this industry.
Here are 10 Amazing Real Estate Facts about India:
1. First Real Estate Facts is Online Presence
According to the reports, the internet is the most preferred and used medium of searching for homes in India. There are over 600 million internet users in India, which appears to be the 2nd largest online market in the World. Of these, approximately 39 million users search for a house on the internet daily. It is shocking, but that’s true!
2. World’s 2nd Highest Number of Households
In India, there are about 248,408,492 households, which makes this country the second largest after China, which consists of approximately 455,939,000 households. The number of households in India has far more than the population of some countries around the World.
According to data, in 2015, India witnessed more than 10.2 million houses in India that were deceiving vacant. This is the second real estate facts about india.
3. Asia’s 2nd Largest Residential Colony
Do you know that India is home to the 2nd largest residential colony in Asia? Kankarbagh in Patna, Bihar, is outspread over an area of 900 acres and has all the facilities of a mini-township. This residential colony also includes many sports facilities, hospitals, restaurants, schools, and multiple shopping complexes. So, this is also the Real Estate Facts about India.
4. Forth Real Estate Facts is 2nd Most Expensive House in the World
Antilia, a well-known name in the World owned by billionaire Mukesh Ambani is a 27 storied building in Mumbai, Maharashtra. Its estimated value is $2 billion; this luxurious house is considered the 2nd most expensive residential property in the World, Buckingham Palace being the 1st.
Antilia is a 570-foot-tall home built on 49,000 square-foot of land and has more floor space than the gigantic French Palace of Versailles.
5. Fifth Real Estate Facts is The Increasing Demand
In India, the demand for housing is increasing at a rapid speed. According to the reports, the estimate between 2016-2020 will witness an increase of approx. 4.2 million units across the top eight cities in the country. It contributes almost 25-27% to the total demand, and the National Capital Region (Delhi NCR) will have the highest demand for real estate properties in India.
With more than 30 years of experience, Gopalan Enterprises is one of the leading real estate developers and builders. It takes pride in the superior technique and attention to detail given to every residential apartment constructed in and around Bangalore. So, this is the fifth Real Estate Facts about India.
6. Private Sector Investment
There has been a rapid increase in private investments in the real estate industry over the last couple of years. Apart from good government policies, investors or buyers try to grip opportunities offered by attractive valuations due to the pandemic.
In the first half of 2021, private ownership investments in the Indian real estate sector touched 2.9 USD billion. This was twice the investments in the first half of the year 2020. So, this is the sixth Real Estate Facts about India.
7. Fastest constructed building in the world is in India
In 2012, a ten-story structure was constructed by 200 workers in 48 hours. This is, to date, the fastest-ever completed design in India and ranks among one of the fastest-constructed buildings in the world.
8. Tax benefits to the home buyers is eighth Real Estate Facts about india
The Indian tax supremacy offer different benefits to home buyers.
Aside from the growing real estate landscape in many metropolitan cities in India, there has been an appreciable growth in the development of state-of-the-art commercial and residential spaces in cities like Pune.
BramhaCorp is one of the leading this development with projects like the Collection of the residential segments, BramhaCorp Smart and Boulevard Towers BramhaCorp Business Park, and Vantage Tower in the commercial section.
9. Rising demands
In recent years, there has been increasing demand for urban housing in India, estimated to be 4.2 million units in the year 2016-2020 across the top eight cities in India.
The highest need will be in the National Capital Region (NCR), contributing approximately 24-26 percent to the total demand. So, this is the ninth Real Estate Facts about India.
10. Investments pour in:
Indian real estate industry has witnessed a total of 24.188-billion-dollar foreign direct investment (FDI) from April 2000 to March 2016; there has been enormous progress in these years. Total cumulative inflows in the building development sector accounted for 8.4 percent of the real influx in India. So, this is the tenth Real Estate Facts about india.
Conclusion
We hope you read our article thoroughly and get some ideas about real estate facts in India. These facts can help you to buy property.
We, Affordable Home Gurgaon, also deal in residential, commercial, and affordable housing projects in Gurgaon; if you are looking for property, contact us. If you found this article Knowledgeable, share this article with your friends and family. Thank you.
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FAQs
Integrity, ethics, familiarity with rules and regulations persistence and passion are important things in real estate.
There are around 300 million households in India. This number is huge than the population of many countries in the world. There are approximately 11 million vacant houses in India where there is shortage of houses.
Residential real estate is the most popular type of real estate.
The word “location, location, location” is still king and continues to be the most important factor for profits in real estate investing.
DLF Ltd. is the No 1 real estate company in India, with more than 73 years of experience in the real estate sector.
There are more than 81,000+ real estate Companies in India.
The percentage of Indian economy in real estate around 6.5 to 7% and this sector is expected to generate millions of jobs.
In India, the real estate sector is the second highest employment rate, and third largest sector in terms of FDI flow and also stimulus in the overall economic growth.
As per the reports, property prices in the country increased by 70% in absolute terms in the five-year between June 2012 and June 2017.
As per the reports, Rajiv Singh with wealth (61,220 cr.) is the richest real estate agent in India.
Real estate start in India during 1991 which opened doors for the multinational companies entering India and many foreign investors and stakeholders to investing in the Indian market.
Real estate sector is the creates the second the greatest number of jobs, after agriculture, that’s why it is important for Indian economy.
Mumbai has highest property prices in India.
Hyderabad is cheapest city to buy a home.
Kushal Pal Singh, chairman and CEO of DLF Limited, is one of the largest private land owners in India.
China Evergrande Group isthe number 1 real estate company in the world.
Real estate can give high return on investment it has the ability to gain purchase on capital and take lead of substantial tax benefits.
There is no restriction according to the income tax laws and rules about how many houses one can own or how many houses one can take a home loan benefit for.
Antilia is the No 1 house in India. It is costliest house in India.
Hiranandani is father of real estate in India.