Residential Property in India
A residential property is that property which is designed by the local municipality or allowing other to set up a unit of homes for the single families, apartments, co-operative town houses or the place where people can live and survive. In India there are lots of people living in different regions because of job opportunities or of other several reasons like facilities, education, marriages, transfers from job and etc. The population is increasing day by day so as the demands are increasing day by day. To meet the demands there are few limited options either to reduce the number of people or to increase in the number of production of articles or the end user goods. Today’s demand of the people is residential property in India. To meet the increased demand of population several business companies entered into the field of property. Many of the bigger names come from this segment are those who worked on the ground realities and after looking the socio-economic status of the general public they are dealing with. The residential property in India, when in demand sold at mouth cost but now when there are too many players into this business the companies are selling their products with skillful hands to survive in this cut-throat competition. Residential property in India boomed to the heights limits when the Government of India announced the lowest rates of interest for the home loans in 2004 that is 7.5% lowest ever noted in India. This revolutionized the whole market from what it was in 2004 to now in 2011. Big sky kissing buildings are built on the acquired land and the still acquisitions are on. Still huge opportunities lies into the business of residential property in India. After seeing the benefits what the private companies are en-cashing the state governments are too started actively participating in these types of constructions and sales. Delhi Development Authority had come to take a step forward by building residential flats for the public and issuing them to the end users. A big project of Commonwealth games is also a part of development of residential property in India.
Residential property in India is regularly demanded and will be demanded till there is a significant control will be enforced on the general public with strong rules and follow ups like China has taken “One One Kid” to control over the population. India or any other country has limited resources with them but best utilization of available resources is must.
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