Globalization, westernization, industrialization have changed the contemporary socio political scenario of the world across the world. India being one of the most densely populated nations of the world is no exception to this. The inflation rates, economic turmoil, liberalization all have been contributing to the real estate scenario all over the world. In India since 1991, from the time of economic liberalization the whole scenario has changed. The Indian market opened its gate for foreign investments and foreign industries. This brought a revolution in the whole socio economic structure of the nation and especially the economic sphere.
The market was expected to keep pace with the changing demands of the society. Up to a point when the demands were met the profitability and interest of the people in the general industrial, agricultural and market as a whole kept on increasing. But after a certain point of time the market failed to keep pace with the changing demands of the people. This was a time when the disparity was created. Class inequality and differentiations severed the situations. Education always played an important role. The general awareness among the mass of people was required to bring a change in the existing superficial, competitive market scenario.
Property rates, commercial, residential property rates or the rates of the plain land used for agricultural or commercial purposes have been on the rise since last few years. This is a similar scenario throughout the nation. In metropolitan cities like Delhi, Mumbai, Chennai, Kolkata, Bangalore the scenario is more or less similar. The rates of all sorts of properties whatever are its purpose of use has been rising.
This is quite an alarming scenario in a way. Inspite of attracting more investors the present scenario of rising rates have actually led to a kind of withdrawal among the investors. The middle class or lower middle class people are struggling hard to make both ends meet. In this scenario it becomes really difficult for them to invest in properties. This is an universal phenomenon.
But apart from the negative side there are lots of positive sides to the real estate business as well. A lot of foreign investments are being made in different kinds of properties in the nation. This has helped the investors and the real estate businessmen to make a lot of profit. This has also encouraged the builders to construct many huge buildings and luxury apartments. In the last few years when many lands, flats remained vacant, very recently the scenario has changed to a large extent. Not only flats and lands are selling rapidly but the demand of properties of all sorts has been on the rise. This is quite a positive side for the real estate business and the Indian economy in general.
There are certain loopholes, problems but this is the scenario at all types of businesses and throughout the nation. The struggle for developers and real estate businesses continues. But with Government making new policies and helping the businessmen and the general awareness among the people the problematic scenario is bound to change in future.