Real Estate Industry Of India Contributes A Lot To The Indian Economy

A roof over your head is an utter essence. For all even animals to some extent. As security for infants and mundane maintenance for holdings possessed seems one of the necessities apart from food and cloth. Hence, real estate industry of India has been a boom of all the industries with an annual growth rate of  20% holding a contribution of 5-6% of India’s annual GDP. Direct high employment generation  is one mentionable contribution of this industry to the Indian economy along with indirect employment arising from the high demand of cement, steel, bricks, building materials, consumer durables, paints, electricity products, paints, water reservoirs with pipes and so on. This industry has been the second largest cause of employment generation in India following agriculture.

Traditional modes of building houses were confined to small regional players with the limitation of  low expertise and mere financial back up. But, modern times have paved way to a huge industry with multiplicative effects over Indian  economy. Following the liberalization and allowance of FDI (foreign direct investment) in 2005, the real estate industry of India viewed a new dawn of financial inflow capitals with expertise and skilled labors taking it to the new heights that had been hardly imaginable.