Whatever is the report of S&P or other agencies, whatever ratings they have assigned to the Indian economy, whatever is the temporary sentiment of the investors, Indian growth story is everything but finished. World economy is indeed in a shape that cannot be called the best and this trembling economic scenario has its own effects on the Indian economy as well. This effect might have posed hurdles to the otherwise running Indian economy in a short term horizon but the basics of Indian economy are in great shape. The economy of this country is bound to rise and so is the real estate market. This makes it the best time for real estate investment in India. Developers have started amazing projects in all the major cities of the country. Although at this point the market stands corrected courtesy the apprehension among the investors because of the lack of stability in the economic scenario, the government is trying its gut out to bring back the momentum. Be it the reduction of interest rates or reducing the CRR, government is taking every necessary step to pump up the investors’ confidence. The current budget also indicates the government’s affinity towards rewriting the growth story again even if it means suffering in the short term. Not only the government, even the developers are going the extra mile to restore the faith in the real estate market. Schemes like guaranteed return or virtually owning the office space in India are being promoted everywhere. Banks are offering cheaper loans with an extended payback period. In a nut shell everyone, be it the government, builders or the banks, is trying hard to fuel the growth in the real estate sector. As the gold losing its sheen as the most preferred investment tool because of the increment in the import duty, this share might get channelized in the real estate market. NRIs are also taking a deep interest in the Indian real estate market making it even hotter. As we all know that the money coming from the nonresident Indians makes a huge part of the total pie. If we could manage to get the money flowing from these people, this might create another wave of property investment in India. In the recent years, an unusual thing that this country of ours has seen is the reverse brain drain. Indian coming back from developed countries to work in India and exploit the new found opportunities here. This reverse flow of talent again fuelled the demand for luxury homes in India. More and more projects are being launched for this particularly affluent segment which again creating better prospects for the growth of the market. In a nut shell, the prospects are good, the demand is bound to grow, the market is ready to surge and the road ahead is not as bumpy as it might seem now. Gaurav Luthra is a real estate consultant dealing in prime properties both residential and commercial. He also runs business centers and shared office space across the country. Recently he started operating property investment in India and luxury homes in India.
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