In the last ten years, India has witnessed and is currently witnessing a phenomenal growth in the information technology sector, information technology-enabled services industry, multinational companies investing in India, and domestic industrial growth. This growth has brought about a rapid economic development in the country but its main impact has been felt in and around the Indian property market as the demand for office space in India and other real estate properties has been skyrocketing.
The Indian property market looks to be well prepared to face the swilling tide of demand as it is offering and driving forward to offer better infrastructure and world class facilities at reliably cheaper price. However, major works in this regard are still to be done.
In recent times, the promotion given by the Indian government to foreign direct investment, foreign investors are increasingly attracted towards Indian market. Consequently, we have seen rapid increase in the number of companies willing to make India as their operational base. Cheap labor and raw materials allows them to expand their business all over the country, thus generating huge demand for office and commercial spaces.
To meet these demand domestic real estate developers are creating commercial, residential and retail spaces in major metropolitan cities of the country, thus making Mumbai, Delhi, Chennai, Bangalore, Kolkata, Hyderabad, Ahmedabad, Pune, Gurgaon, Chandigarh, and Jaipur the most coveted hot spots for commercial activities.
Another segment of business to have flourished due to this spurt in the real property market is the property dealership. In the Indian property scenario today, the void of property dealership has been filled mainly by the property developers themselves as they seem eager to diversify their business according to the need of the hour. But there are genuine property dealers as well.
These property dealers offer varied services to the customers including buying, selling, renting-in and renting-out. In order to sustain their business they are allowing customers to access their services through the Internet, and their websites offer special services such as property search through real estate property search engine, price negotiation, legal verification of the property, property care and maintenance, photos and video for the property, etc.
Their sites facilitate easy access to international business enterprises and domestic businesses to the Indian real property market. They can search information regarding the real properties, real agents, builders and other people associated with the trade as well as other information.
As more and more companies are making their way in the market, they are obviously struggling to get a desired space, property dealers are ready to resolve the relocation problem of offices, and are providing ready-to-move-in offices in rent according to the organizational requirement, thus saving time and money for these companies.
So it is getting easier today, for foreign investors and domestic investors alike, to find property in India. And there is no doubt that India is going to become the best place for investment in contemporary retail, residential or commercial space in near future.
Source by Jack Macferson