The real estate industry is doing wonderful in India.
Therefore, it stands next to the agriculture sector in generating employment
and revenue. This is quite obvious as rapid urbanization was taking place.
Development penetrated into some of the lesser known cities like Lucknow. Selling
and purchasing of immovable properties came to the forefront. The best builders in
Lucknow were just mad with the crazy contractors, seasoned engineers
and learned architects. The city was under construction over these days. It was
facilitated by the city’s development authority. With it there came the tier I
and tier II cities to allure the investors to make investment.
However, in the last two years there have been substantial
reductions in the Growth on Investment.
The reasons were many. Properties were sold here like hot cakes. There was
meltdown in the national economy and graduates were looking for jobs somewhere else.
Much interference was felt from the brokers in the market. Delayed government
clearances, protests from farmers and defunct industrial polices aggravated the
situation even more. If the loopholes are to be listed then there are numerous.
The government should look into the matter meticulously and come up with
solution that is practical and proactive. This is how the real estate industry
can be given a second chance to grow exponentially.
With the much demand for open spaces high rise construction
should be permitted. Having this implemented wisely the available resources
like water, power and security can be utilized in a more effective way. The
government like that’s of Singapore should get into the affairs of buildings
and resolve all unscrupulous means. Having these suggested measures
incorporated India property
investment can be made to rise again. Commercialization has to be meted
in a more proactive manner and this can be dealt by building more shopping
complexes, malls and the like.
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