/24-7PressRelease/ - October 20, 2007 - Impact of Indian real estate can easily be seen in both big and small cities. Property prices in India are on surge. With tech boom spreading fast across the country, the economy grows at 8% a year. Also, real estate in India is attracting large interest of investors from abroad.
More and more Indians are buying homes and India is one of the few countries where there is a primary demand for real estate rather than individuals trading up.
Indian realty sector is likely to grow up to the mark of $90 billion by 2015 from the present $12 billion in 2005. India has emerged as the most exciting real estate market in Asia.
However, improvements are accompanied with concerns. The tension about an asset price bubble has forced the Central Bank to increase the risk weightage on property loans extended by banks. Also, the mortgage loans have shot up from 7.5% to 9.5% as the immediate outcome.
The ultimate result has shocked many as no one would have imagined such a bright future for property market in India. Attracted by the charm of Indian properties, several major investors such as Morgan Stanley have come forward. The bank has invested $68 billion in Mantri Developers, a midsized property development firm in Bangalore.
Foreign companies are invested in Indian real estate companies. For example: GE Commercial Real Estate invested $63 million in $800 million fund to develop IT Parks.
Indian real estate mainly focuses residential and retail sector. As far as the commercial property sector of the country is concerned, quality supply is putting pressure on rentals. There is an improvement in infrastructure amenities all across India. With exclusive shopping malls mushrooming all over the country, the best in quality will gain the renter and the tenant the best in real estate prices.
Bikash kumar is the contributing author to the http://www.indianrealtynews.com for distinct articles and news. Indian Realty news provides news on commercial and residential properties of various cities like Delhi, Gurgaon, Mumbai, Chandigarh and Bangalore etc in India along with news on latest property investment, finance and property loan and laws in India.
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