Millions of Houses

India is a fast developing country where the economic growth is phenomenal. Spread over the country most places are in the phase of fast growth. Lot of industries are coming up. Govt started concentrating on infrastructure development as well. Especially Tamil Nadu and Gujarat has taken an upper hand over other states in development. They introduce various schemes for the entrepreneurs to put up their industries in the state. This drastic development seeds the desire in the minds of the people to go for own concrete houses. The market for house construction blasted like anything and the demand for low budget houses are high. It is estimated that within 3 years we need about 3.8 million houses in India and especially at Gujarat and Tamil Nadu. In Chennai the entire suburbs are taking different shape with many works going on throughout. As we all know that construction work is dependent on many other industries and all started improving. For example Pipe industry, Cement, Steel, Ceramic, Furniture etc., Good amount of employment is also involved. The government also takes initiative to reduce the housing finance and it also encourages banks to open rural branches. Many multinational financial institutions are collaborating with local institutions for funding. Every day one new real estate & construction company is propping up. Again many multinational companies started funding into Indian companies. DLF's company's 10% share is purchased by a foreign company. One sad thing about the market condition is the land prices are going up. There is no standard policy for Govt in allotting living spaces. It is all market driven and the idea of the people keeps changing. Today one area develops as residential. After some time people starts opening commercial and ultimately the entire area become commercial. People migrating from this place to another place either to avoid noise and air pollution or because of better offers. But on the whole the country looses heavily because of destruction of building and migration.

Author: Property Promoter