Real Estate & Property Development
The real estate sector in India is on a growth path. The development in the real estate market encompasses growth in both commercial and residential spheres. The popularity of the Indian real estate sector is also highlighted by a report ‘Emerging trends in Real Estate in Asia Pacific 2011’ published by rice water house coopers and Urban land Institute.
Indian economy has experienced robust growth in the past decade and is expected to be one of the fastest growing economies in the coming years. Demand for commercial and residential property is being driven by the country’s economic growth. Real estate contributes about 5 percent to India’s gross domestic product (GDP).
Metropolitan cities are expected to account for about 40 percent of the demand for Real Estate Residential and Commercial properties. The foreign direct investment (FDI) up to 100 percent is allowed with government permission for developing townships and settlement. Growing requirements of space from sectors such as education, healthcare and tourism provide opportunities in the real estate sector. FDI of more than US$ 9 billion was infused in real estate in last decade.
India has experienced a great demographic growth that has made the demand for housing increase. India boasts wonderful maritime and mountainous landscapes. Its culture is fascination. Experts say that the global financial condition will not influence the Indian real estate market negatively. The reality sector is expected to remain strong.
As regards the company’s project, there is a felt need for an upmarket community hall for the minority community in and around the location of the project. with rising income levels, there will be continuous demand for the community hall for marriage, social, religious functions. For projection purpose the occupancy has been assumed at 55% initially. With the prime location and accessibility, the occupancy will in reality be more than 66%.
Bangalore- An Emerging International City.
As one of the world’s fastest growing cities, Bangalore is experiencing a steady increase in population (3.25%, Current annual growth rate). Its population is likely to become 10 million by 2021. The growth is spurred by the advantages conferred on the city by entrepreneurial and intellectual capacity incubated through a serious of private and government actions. Besides, Bangalore enjoys a favorable climate. a high quality of life, a cosmopolitan ambience and social diversity. The city has earned the titles of “ IT Hub of Asia” and “Silicon Valley of India”. The IT based formal sector accounts for 20% of its economy and other formal and informal sector contributes to 80%.
Bangalore’s advantages places it on the threshold of the status of an International city. A concerted effort towards developing new functions, especially high value service sectors, upgrading the city’s infrastructure including transport, public amentias and logistics, and provision of housing options within the larger natural environment, will contribute to the City’s economic dynamics.
Issues and concerns facing Bangalore today
Like any growing city, Bangalore has its share of concerns that need immediate attention. Provision of housing, civic amenities and alternate modes of transportation, protection of natural areas and supply of adequate infrastructure facilities are some of the concerns.
Strategic planning with a focus on urban management and a clear definition and coordination of institutional roles is essential.
Our company Wahab Enterprises Pvt., Ltd., (Builders and Property Developers) is engaged in developing residential apartments/ commercial buildings with modern facilities. by giving utmost attention to quality of construction and also provide green environment features and finishes that are guaranteed to give luxury and comforts for a life time.