The residential sector in India is witnessing a huge growth. Those who have entered this industry are making huge profits. There are many millionaires made by this industry. The new entrants in the property market are developing townships and colonies have office complexes, commercial spaces, hospitals, multiplexes all at one place.
The Indian government has also given the real estate industry many facilities. The policies of the government for the investors in all the sectors have facilitated this growth. The residential real estate consists of 75% of the total real estate. People are buying houses. The old trend of building the house at the time of retirement has changed. As soon as a person is settled the first thing he/ she does is to buy a flat.
As the salary in almost all sectors has improved and the interest rate has lowered, there is an improved level of activity on the part of retail investors in the residential sector, especially in the low to mid-end housing sector.
People in small towns and cities are building houses or flats as it has become easier to get housing loan. A two bedroom flat in a metropolitan will cost up to 30 lacs, but the same will cost up to 20 lacs in a small tier 3 town. In place like Mumbai the rate is still higher. Still there is no dearth of property developers or buyers.
Those who are shifting from small towns to metropolitan cities, the first thing they do is to save some money for margin money and then take a long-term loan and buy the property. The HRA they get is used to pay of the monthly installment. The upward moving young professional are buying one property and then, going to buy the second one.
The property developers are also concentrating on this segment as it is the most viable segment right now. You won’t find any space left anywhere, if there is scope for development of property, you will find it developed. The whole scenario is of the real estate has changed.

Real estate is a major industry in India. It provides employment to lots of people in India. The growing Indian Economy, newly qualified professional create a demand for real estate, increase in the mall culture, rise in the middle class income and development of multinationals all have contributed towards this boom.
The demand for houses and flats has increased and is still increasing. Previously villages used to live in their ancestral houses with joint family, but now the trend has changed and everyone wants to stay separately in their own houses.
With rising industrial development, lower class people are shifting from villages to cities and towns and are getting work there. They also have created a market for houses and flats. The labor class in construction sites comes from villages and they shift from one construction site to another. This has created a demand for lower class flats. The real estate developers are creating new models of small flats to cater to their need. In tier -2 and tier-3 cities and towns these are cheaper than bigger cities.
The housing loan has become more approachable now, with many banks offering home loans. People are availing of this facility and are buying flats right in the start of their career. The residential real estate is much in demand as compared to commercial real estate. Though you will find lots of shopping malls, hospitals, retail outlets in tier 2 and tier 3 cities, but the main focus is the residential real estate.
The buyers are getting the best deal in terms of facilities offered by the builders today. The sate-of-art amenities provided by the builder are at par with any other international builder. Modular kitchen, adequate security arrangements, recreational grounds, club and community centre all facilities are provided in the township itself.
The dream of owning a house or flat is everyone’s dream, but modern Indian real estate is making this dream come true.