The New Building India

Real estate market in India is thought to be onebreakneck.
of the most stable markets. It will not be anIt all started with Gurgaon. It was a non-descript
exaggeration to say that by any standard it is theplace when a couple of builders of repute moved
most stable. Barring a crash in mid-nineties whenduring early eighties. They had had a foresight and
properties fell to as low as 50% of theirnow they are reaping the benefits. No common
previously prevalent prices the appreciation of theman would have imagined that the capital of India
capital parked in property is a sure shot. Did thehad to spill over beyond its frontiers and even
demand suddenly dry up? One wondered.farther away.
In a fast developing economy like India whereThe builders of yore had started with plotted
housing is too short to meet up the need therehousing as flats in India or apartment culture had
will always be houses for sale India unlike homesnot set in. But all that has changed. Now the
for sale in the developed West where supplyculture is very well entrenched into not only NCR
exceeds the demand. As the current trend wouldreal estate market but even hundreds of
have it the building mania has virtually taken overkilometers away.
the Indian housing scene. As middle class in IndiaThus national highways originating from Delhi are
prospers and banks come forward to meet upthe feverish centres of building activity. This is
the aspirations the demand for housing isfollowed by the areas flanking the new and
unprecedented.upcoming expressways, which are attracting
Delhi-National Capital Region (NCR) is the hub ofbuilders and real estate activity like never before.
the building activity. The buck in housing beginsThe north, the west and the south of India have
here and the spread out across all the directions iscome under building spell.