Real estate market of India has become one of the globally recognized and fastest flourishing sectors, which is estimated to grow by 30 percent in the coming decade. The demand for more space by an ever growing Indian population is only supplementing the growth of this industry. More and more projects are being launched every year to accommodate this demand, both from domestic consumers as well as NRIs. The size of the Indian real-estate industry is such that it has been forecasted to reach US$ 180 billion by the year 2020. Delhi NCR is one of the largest markets in terms of office space in India with 110 million sq ft of area dedicated to housing offices alone. The relaxing of norms to allow Foreign Direct Investment (FDI) in the construction sector makes it easier for the property developers to take up affordable housing projects.
The demand for housing has been its share of slug. The time is also ripe to procure a new property as interest rates have been slashed by the Reserve Bank of India which is exciting news for both the developers as well as buyers. Lowered interest rates mean cheaper home loans, which has encouraged consumers to enquire more about new properties available in the market.
With new projects in the line-up, the developers are concentrating more on delivering their projects on time and ensuring they can move onto new projects soon after. A reputed builder Supertech Limited has recently organized the possession ceremony for its prestigious projects Capetown and Ecovillage 1. Time delivery by Supertech leaves the investors satisfied and with profound ease of mind. In an effort to boost up sales, several builders in NCR are introducing offers such as subvention schemes, low down payment options and low interest rates for fixed periods. With high possibilities of materializing dreams of owning a new home, buyers will now enjoy low purchasing prices and then the low interest rates that would follow.