Indian Real-Estate, what’s hot? What’s happening?

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(Free-Press-Release.com) February 14, 2012 --

The Indian real-estate sector is a recent evolution, one that has taken off in a big way and now dominates as one of the most lucrative mega-industries from the Indian economic stand-point. This sector provides employment to thousands of people and is based on the tenets of ‘High pay-off for adequate work’. This has led to real-estate being viewed as an easy career choice at the grass-root levels and many qualified/unqualified, full-time/part-time professionals are actively indulged in the selling and buying scenarios of real-estate properties. The Government has very recently woken upto the ‘impending’ problem and many regulations and an organized approach has already being promised.

Anyways, the collected Indian interest in real-estate has resulted in properties across India being viewed as potential gold-mines. The ‘demand & supply’ mantra works wonders in the Metros and other big cities of India where selling, buying or renting property comes at a huge price-tag. So, what are the current real-estate trends prevailing in the country? We look at a cross section of India, prominent cities and how they contribute to the whole real-estate mania. We begin with Ahmedabad & Bangalore, two cities that are alike yet poles apart. Enjoy the read and do consider investing here.

Ahmedabad

Ahmedabad (known locally as Amdavad) is the largest city in Gujarat. It is the seventh largest city of India in terms of its metropolitan area and has a population of approximately 7 million. Ahmedabad was the former capital of Gujarat and is currently its dominant financial and judicial center owing to the Gujarat High Court being located here. The city is making international news as well, in 2010, Forbes magazine rated Ahmedabad as the fastest-growing city in India, and third overall in the world. Ahmedabad is located on the banks of the River Sabarmati, 32 km from the state capital Gandhinagar. The city is universally known for its beautifully crafted classical and colonial European styled buildings.

Under the British raj, a military cantonment was established here and the city infrastructure was actively modernized and expanded. The textile industry took off big-time here thus earning it the nickname of “Manchester of the East.” The city was a prominent fixture during the Indian independence movement and was the centre of many campaigns of civil disobedience to promote workers’ rights, civil rights, and political independence- the spirit of which survives to this day.

The city is witnessing a major construction boom and population increase. A rising centre of education, information technology and scientific industries, Ahmedabad remains the cultural and commercial heart of Gujarat and much of western India. All these developments make Ahmedabad a prime location for real-estate investment. The city’s modern leanings, stable climate and mentality alongwith high education levels allows it to be a darling amongst many MNCs who have ambitious plans to drop anchors here or expand their existing infrastructure.

Bangalore

Bangalore is the capital of Karnataka, known as the ‘garden city’ because of its beautiful gardens as also as the ‘Silicon Valley of India’ because of its standing as the nation’s leading IT exporter. Bangalore is a major economic and cultural hub, the second fastest growing major metropolis and the third most populous city in India. In 2009, Bangalore was inducted in the prestigious list of global cities and ranked as a “Beta World City” alongside cities such as Dallas, Miami, Boston, Kuwait City and Munich.

Bangalore’s INR5 2,346 crore (US$11.67 billion) economy (2006–07 Net District Income) makes it a major economic center in India, with the value of city’s exports totaling INR 43,221 crore (US$9.64 billion) in 2004–05.With an economic growth of 10.3%, Bangalore is the fastest growing major metropolis in India, and is also the country’s fourth largest fast moving consumer goods (FMCG) market.

Today, as a growing metropolis, Bangalore is home to numerous well-recognized colleges, research institutions, public sector heavy industries, software companies, aerospace, telecommunications, and defense organizations. Infosys, Wipro,(both global SEI-CMM Level 5 Companies) iGate, Tata Consultancy Services, Accenture and US based companies like Google, IBM, Hewlett-Packard, Yahoo, Oracle Corporation, Cisco, Microsoft, Intuit and Intel have their research and development centers along with their corporate offices in Bangalore. The city contributed about 33% of India’s Rs. 144,214 crore (US$ 32 billion) IT exports in 2006–07.

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