It is a known fact that India is the fastest growing economy of the world and is slated to become the next super power. Hence it is but logical to assume that India is the country to invest in, to generate maximum wealth for your family.
Some interesting facts :
- 1 in every 6th person on this planet lives in India.
- By 2030, India is set to become the most populated country, even ahead of China.
- By 2030, 91 million households will be middle class, a 350% increase from the 21 million today.
- By 2030, a record 570 million people will live in cities, nearly twice the population of United States
- The current shortfall of homes in India stands at a little over 24 million units (15 in semi-urban and 9 in urban).
- Incomes are rising, families are increasingly smaller in size and population is accelerating at close to 2% per annum.
- Indian cities are not only the most populous but also among the densest urban agglomerations of the world, which presents a tremendous investment potential in the development of infrastructure and real estate.
The Untapped Potential
As mentioned in the opening lines, India is the fastest growing economy in the world and is slated to become the next super power. It’s highly skilled workforce is set to make this country one of the world’s largest outsourcing destination for businesses across Europe and USA. With a land area of one third the size of USA, India harbours nearly three times the population.
The United Nations Population Division (UNDP) expects the degree of urbanization to grow over 40% by 2030 from the current 29%, which translates into an annual growth of 2.5% per year for the next 20 years. Urban population will double from the current 300 million to just over 600 million by 2030. At this rate, an estimated 854 million people will live in Indian cities by 2050, a figure which is the combined population of present day USA, Brazil, Russia, Japan and Germany.
To accommodate such a large population, housing capacities will have to increase rapidly and eventually keep up with population growth rate. Tier 1 cities are getting increasingly strained and saturated, and this is going to lead to a shift of development to Tier 2 cities which will also experience above average growth rates. Public spending on infrastructure is among the biggest contributors to GDP and will act as a stimulant to world class developments over the next 15 to 20 years.
The Macro Economics
Indian real estate has huge potential demand in almost every sector, and especially in commercial, residential, retail, hospitality, healthcare and education space.
Commercial office space requirement is led by the burgeoning outsourcing and Information Technology Industry. Estimated demand from IT/ITES sector alone is expected to be 150 million sq.ft. across major cities by 2012.
The increase in purchasing power and exposure to organized retail formats has redefined the consumption pattern and as a result, the country has experienced mushrooming of retail projects across the cities.
Standards of living are gradually rising and this calls for homes (villas, apartments, gated communities, row homes, etc.) and educational infrastructure of international standards.
The main growth thrust is coming due to :
i. Favourable demographics,
ii. Increasing purchasing power,
iii. Existence of customer friendly banks & housing finance companies,
iv. Increasing professionalism in real estate, and
v. Favourable reforms initiated by the government to attract global investors which has led to record number of FDI realty funds investing along with reputed builders of the country in some of the latter’s signature projects.
For the NRI
A decade ago, visits to India would more or less end with a lingering feeling of “it will always be the same” or “things will never get better”. But that is not the case anymore and despair and frustration is turning into expressions of awe and appreciation.
As India hogs the world’s headlines, an increasing number of NRIs are longing to connect with their motherland as they secretly cherish the desire to return to & settle down in India. Even though our India’s standard of living is still a few years away from reaching those of more established countries, the buzz in almost every sphere of economic activity is unmistakable. With a developed taste for a good and comfortable life and a high standard of living, a number of projects are already underway to cater to NRIs & Expatriates with international standard condos, houses and plots in metros and suburbs.
NRI’s feel that they can make valuable contributions to the booming economy of India and with a good number of “world” schools, plush accommodation, global entertainment and the sprouting shopping malls, India is the place to be.
To know more about the latest wealth creation opportunities across all leading cities of South India, click here.
By Jhashank Roy ChowdaryG&C Global Consortium ™ Our Website | Our Facebook Page | Our Twitter Feed +9180-41520808/09/10 firstname.lastname@example.org