Effects of Migration of People on Residential Real Estate
- Posted By : Pooja-Agrawal-
- Posted Date : August 7, 2019
- EmailID : email@example.com
- Short URL : https://indi.in/xhY9x
- Rating :
- Vote Successful!
- Total Votes : 0
Indian real estate sector is shaping itself dynamically with a progressive approach to migration. Presently, the Indian real estate sector is one of the most recognized sectors which influence rapid development and growth. According to the India Brand Equity Foundation (IBEF), the Indian real estate sector is expected to reach a market size of US $1 trillion by 2030 from the US $120 billion in 2017 and it will contribute 13% of the country’s GDP by 2025.
With this increasing rapid rate of development, the demand for residential housing is also increasing rapidly. Some of the reasons to consider for this rapid growth is increasing income, urbanization and economic growth moreover residential housing has become an essential asset for migrating population. Growing population in India has an impactful contribution in increasing the growth and rate of residential real estates. Education is also an important factor which has enabled the rural population to draft its shift to urban locations and thus, has made an increasing contribution to the urban housing system. Shifting of youth for employment to the cities has resulted in a key situation that has made housing more important.
Moreover, citizens in growing economies like India face difficult situations like a prospective home buyer facing a cash crunch to buy their dream home or having a limited choice of homes to select from. To bridge such situations HomeCapital has taken an initiative to assist the first time home buyers in India. It has come up with the first Down Payment Assistance Program with an objective to solve the biggest hurdle towards homeownership i.e. down payment. This program offers up to half of the home down payment requirement with zero cost EMI loans. Apart from this assistance provided by HomeCapital, the government of India has also taken steps forward by the scheme PMAY - Pradhan Mantri Awas Yojana which facilitates a vision to provide housing for all.
Similar Ads that may interest you
These areas offer good locations for the construction of new projects. The upcom...5 Days ago