Indian Real Estates from sector to industry

Real estate industry is one of the fastest growing sector in india.The annual growth of Indian reality is above 30%.Construction industry is 2nd largest employment generator in India. It holds a 5% share in the GDP development. Real Estate sector has contributed in the growth of Indian economy.

Conferring the status of ‘INDUSTRY’ to the Indian real estate sector may definitely benefit the Indian realty. The Government of India has sent out official notifications confirming this reform program. A proposal regarding Indian realty has been submitted to the finance minister. Government of India will form committee to assess the progress of this reform. This committee includes the urban development, finance and housing ministries.

The realty sector will make finance and loans easily available to the Developers at reasonable interest rates from the banks. Before few years, due to the lack of a developed identity, real estate was disadvantaged of the many such encouraging benefits. But now the realty sector attaining industry status, more such beneficiaries are on the mode to promote its growth and development.