In this booming age of Information and technology (IT), India has become a hottest IT destination leading to the emergence of thousands of IT companies in all major metropolitan city in India. Every big company wants to have office space in India. Indian real estate properties are buzzing at major metros and other smaller cities are highly influenced by the establishment of not only IT hubs but big residential and commercial complexes, shopping malls and entertainment centres. So property dealers are playing an important role in the economic development of India.
Among the major real estate investors, foreign multinational companies and foreign investors form the largest group. Due to rapid economic development and promotion given by the Indian government to foreign direct investment, foreign investors are increasingly attracted toward Indian market. For them India is the best proposition because they can avail better infrastructure and world class facilities in relatively cheaper price.
Another important segment of investors are the non-resident Indians (NRI). More than 25 million NRI living in 125 different countries are keen to get their share of the real property pie, as such they are increasingly investing in real estate properties across India.
Moreover, the resident Indians are not too far behind their foreign counterparts with large amount of disposable incomes at their disposal. The growth of the Indian middle class and the growth in their purchasing power have led to the spurt in the buying, selling and renting activities in the real property market.
The size of these domestic investors has grown manifold in the last decade, and they have found residential real as an important investment option. Today, they are investing heavily in the residential real estate market and leasing their homes and apartments for rent and this has further boosted the property rental sector in India.
No wonder, India is going to become the best place for investment in terms of retail, residential or commercial segments of the real estate market. In this scenario, real estate agents and developers are the big money makers and are reaping heavy benefits by offering their services to the investors.
To cater to these investors the companies involved in the real property market are offering special services such as property search, price negotiation, legal verification of the property, property care and maintenance, photos and video for the property, etc. through their Web sites.
The Indian real estate or property market is dynamic and has a great potential. And one can expect phenomenal growth and foreign direct investments in this sector in coming years.