The Indian economy has witnessed a robust growth in the last few years and is expected to be one of the fastest growing economies in the coming years. Demand for commercial real estate is being driven by India's economic growth.
The sector is not only the biggest contributor to gross domestic product (GDP) of the country but is also the fourth largest sector in terms of foreign direct investment (FDI) inflows in the country. The two main reasons responsible for boom in the real estate industry in India include liberalization of Government policies, which has decreased the need for permissions and licenses before taking up mega construction projects and the expanding industrial sector.
Urbanization and increasing household income are some of the major factors that influence demand for residential real estate and growth in this sector.