Craze of big metropolitan cities and a search for better life has attracted comman manto new place since time immemorial. This migeration from small villages to concreteurban jungles have brought about quiet a stir in the realty sector, including bothresidential and commercial properties. Cities are now expanding their boundaries to fulfill the ever-increasing demand of new homes and office spaces .Globalization haveadded to this stir in real estate sector commendably.
India has witnessed urbanization and commercialization in full swing in past few decades. This has subsequently resulted in the growth and progress in the residential realty sector.
The ever-increasing population and migration from rural to urban areas has considerably changed the scenario of realty sector in towns and major metropolitan cities and its adjoining areas. One of the key factors that lead to this growth in last decade has been a change in the general family structure. Previously where people were accustomed to live under one roof with whole family living as one close knit unit has been drastically affected by migration and urbanization. Thus paving way for the nuclear families and the culture of independent flats and apartments was accelerated. Westernization has played an effective role in transformation of separate houses gore each family.
The working class of people has subsequently and substantially increased in the cities. Therefore rise in growth in realty was testified by growing incomes of salaried professionals .This directly affected the purchasing power with encouraging participation of banking and Non-Banking Financial Company sector. Developers have efficiently fulfilled the increased demand of residential properties from time to time. Growth in the infrastructure sector has resulted in the connectivity of all the suburban and urban areas throughout the country making networking and transportation very easy which was not possible earlier.
India has witnessed urbanization and commercialization in full swing in past few decades. This has subsequently resulted in the growth and progress in the residential realty sector.
The ever-increasing population and migration from rural to urban areas has considerably changed the scenario of realty sector in towns and major metropolitan cities and its adjoining areas. One of the key factors that lead to this growth in last decade has been a change in the general family structure. Previously where people were accustomed to live under one roof with whole family living as one close knit unit has been drastically affected by migration and urbanization. Thus paving way for the nuclear families and the culture of independent flats and apartments was accelerated. Westernization has played an effective role in transformation of separate houses gore each family.
The working class of people has subsequently and substantially increased in the cities. Therefore rise in growth in realty was testified by growing incomes of salaried professionals .This directly affected the purchasing power with encouraging participation of banking and Non-Banking Financial Company sector. Developers have efficiently fulfilled the increased demand of residential properties from time to time. Growth in the infrastructure sector has resulted in the connectivity of all the suburban and urban areas throughout the country making networking and transportation very easy which was not possible earlier.
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