The real estate market has been undergoing changes due to recent policies of the government and other initiatives. The move of demonetisation which involved currency ban was initiated by the current Government. With the introduction of demonetisation, the real estate sector was shaken up due to high involvement of cash transactions. According to Singh (2016), 35-40% of the money which was exchanged in black for selling and buying of pre-owned houses in Delhi NCR region has been curbed due to demonetisation. This will lead to unsold inventory of residential and commercial premises, increasing the drag on other sectors such as financial, steel, etc.
The European Union (EU) is an economic unit envisaging the social, political and economic interests of its member nations, in a way that it benefits all on a common ground. The historic formation of the European Union dates back to the times when the world was experiencing the thrust of political and economic instability. This includes the First and Second World Wars. The integration process of the European sub-continent had started gradually in the aftermath of the Second World War in 1945 following the demands of its member states.
In the past five years, there has been an undeniable slump in India’s real estate. This was due to reasons such as after-effects of the recession, inflation, inventory pile-up, etc. However the same has not been majorly felt in India’s two metropolitan cities, Mumbai and Pune. They are two of the most favourable destinations for real-estate in India for multinational companies foraying in the Indian market. Since they require retail or commercial space for setting up their presence in India, the demand for real estate in these cities has been lucrative.
The real estate sector is one of the most recognised sectors of India. It is the second largest employer in the country after agriculture. India’s skylines consists of housing, retail, commercial and hospitality establishments. Around 91 million people shifted in urban areas over the last decade. The 2011 census revealed that the number of towns in the country increased to 2774 from 2532 as compared to the previous year (Ministry of Urban Development 2015). This trend has continued and there is growth in housing demand in order to accommodate the rising population levels. The aim of this article is to present a brief overview of the real estate sector of India and its different growth phase, particularly during the last decade.
The inflow of foreign direct investment (FDI) in India has paved the path for the economical and financial development of a country. There has been significant increase in economic growth after the liberalization policies undertaken by India in 1991 (Nagaraj 1997). Though the journey to growth has not always been a smooth trend for India. However, the reformation has improved the gross domestic product (GDP) over the years. It has indicated sound growth especially in the recent years when the inflow of foreign capital has increased immensely (Sahni 2012).
Foreign Direct Investment (FDI) is an international flow of capital where a company or individual of one country makes an investment in another country. The main objective of such investment is to establish business operations which will generate a lasting interest in the investee economy (Goldberg, n.d.). Read more »
India is gaining importance globally as a rapidly developing economy. Investors from all over the world has showed faith in the flexible Indian economy. One of the major factor for rapid economic growth in India after 1991 can be attributed to huge inflow of foreign capital. There are various determinants which led to such huge capital inflow in India. Political and legal system is one of the key factors. Read more »