According to the Planning Commission of India, it defines genuine as land, which includes the ground below and the air above it. Apart from this, it also includes any structures or buildings on it which is denoted as realty. It is a fact that the Indian construction industry and Real Estate Business has a huge role to play in the Indian economy. Moreover, it is also an important role in the development of the country’s infrastructure base.
Real estate includes suburban housing, feasible offices, and trading spaces such as hotels, theatres, restaurants and retail outlets, industrial buildings such as government buildings and factories. On the other hand, what comprise of the genuine land sector are construction and housing sectors which include the developers/ builders, owners, investors and buyers.
When we consider the genuine land business, it consists of dealings, which include selling, buying, and expansion of properties/ land, non-residential and residential buildings. Land owners/ proprietors, land owners, genuine land agents, developers, builders, buyers, tenants, etc. are generally people who primarily indulge in real estate business. It has also been noted that Indian real estate has significantly witnessed growth with robust economy which has gone well with a range of Initial Public Offerings (IPOs) by investments as well as property firms by NRIs in Indian genuine land Market.
With the arrival of foreign companies and MNC along with NRIs investments, presently genuine has been a flourishing sector in India. It has been observed over the past few years that the Indian real estate industry has witnessed some great growth. Owing to the prospects offered in the market, the Indian Real Estate is driven by the builders/ developers, buyers, tenants and land owners.
With both national and international builders in India probing further into the cities, the nation’s regulatory and government authorities are constantly striving to improvise the market clearness. Moreover, the genuine land Regulation Bill is considered as a primary policy which is likely to improvise India’s transparency score that will be scheduled later this year. The Real Estate sector has continued to shoot up and in major 11 cities overall improvement was witnessed in spite of the fact that there was slowdown in the economy. This simply states the fact that the Indian Real Estate business is surely prospering.
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