Residential units: With the Indian economy growing at 9%, along with rising income levels of middle class, increasing nuclear families, low interest rates, modern approach to homeownership and changing attitudes of young working class in the store and buy buy and pay, which contributed to the growing demand for housing.
The cost of the older houses to be used in more almost 20 times the annual income of buyers, while today more or less than 4.5 times.
According to the 11th Five-Year Plan, housing shortage in 2007 was 24.71 million and the total demand for housing during the (2007-2012) is 26.53 million. The total fund requirement for urban living for the 11th Five-Year Plan is estimated at 361,318 R crores.
Summary of investment needs for the XI Plan is given in the following table
Screenwriter investment requirement
Housing shortage at the beginning of XI Plan 147,195.0
New additions to the housing stock in the XI Plan, including additional housing shortage in the plan period 214,123.1
Total housing requirement of the plan period 361,318.1
• Office space: the rapid growth of Indian economy, while also deluging impact on the demand for commercial real estate to help to meet the needs of business. Growth in commercial office space requirement is led by the burgeoning outsourcing and information technology (IT) industry and organized retail. For example, it is only an estimate and ITES require 150 million sqft across urban India by 2010. Similarly, organized retail is likely to require further 220 million sqft by 2010.
• Business Center: In the last ten years, urbanization is increasing CAGR of 2%. With the growth of services sector, which has not only shifted the disposable income of urban residents, but also became fully conscious. If we take the number of Indian retail is estimated at approximately $ 350 billion and forecast to be double by 2015.
So rosining income levels and changing view on branded goods, leading to higher demand for mall space, including strong growth prospects in the Center development.
• multiplexes: the next growth driver for real-estate sector is a growing demand for multiplexes. Higher growth can be seen due to these factors:
1st Multiplex consists of 250-400 points on the screen, as against 800-1000 seats in a single screen theater, which give multiplex owners additional advantage, enabling them to optimize capacity utilization.
2nd Besides these non-ticket revenues, such as food and beverages and rental of space to cross the vendor provides a higher revenue per theater developers.
• Hotels / Resorts: as already mentioned above, that increasing the huge boom in the property sector, is due to the growing middle-class incomes. Therefore, the increase in income tend to spend part of their income on trips and drive the rise, leading to higher demand for hotels and resorts across the country. Besides this, India is also emerging as a major destination for global tourism in India, which raises the demand hotels / resorts.
The path set by the government