(Newswire.net — January 9, 2022) —
Andrew Carnegie once said, ‘Ninety percent of millionaires become so through owning real estate.’ Even though if you don’t become a millionaire by investing in real estate today, there are high possibilities that you will have more wealth than you have now. It goes without saying, real estate has been and remains a lucrative investment option in contemporary times. Hence, if the surge of economic growth post-Covid is making you consider investing in real estate in Mumbai, you’re not wrong.
Today, a lot of people buy a property not only to put a roof over their head, but also because the value of the property will appreciate over time. Besides, compared to other investment options real estate is much more popular as well as a secured investment choice for both seasoned investors and novices simultaneously.
Real estate prospects for India
If you are keen to gain some insights on real estate before putting your money on it, here are some perspectives.
-
By 2030, the real estate market is expected to touch the $1 trillion mark, which is just by a decade. When it comes to real estate contributing to the economy of India, experts expect that by 2025 real estate will contribute to 13% of the country’s GDP. Besides, we cannot ignore the fact that industrial investments attracted over $5 billion last year.
-
What’s more, real estate comes amongst the highest employment generators in the country, which is just a bit behind the agricultural sector. In the case of direct and indirect employment, this industry provides for a million homes in the current times. Furthermore, it cannot be overlooked that various companies, both small and big establishments depend on real estate for running their business successfully – all the way from construction consultants to the developers in Mumbai.
Things that have impacted real estate dynamics
A lot of factors are responsible for shaping the real estate preferences and purchases happening currently.
-
Urbanisation
It goes without saying that the country is progressing quickly towards urbanisation. Moreover, when 75% of the GDP is being allocated from urban areas, it cannot be denied that all the actions are here.
-
RERA
The execution of this Act has offered a great boost to the real estate sector and offered protection to the buyers to a great degree. On top of that transactions are more equitable plus it has enhanced the comprehensive buying climate in India subsequently. Ensuring higher transparency and accountability, RERA has helped streamline the real estate industry significantly.
To cut a long story short, real estate in India is constantly growing with time. In addition, it is not a volatile market like stocks, making it a safe form of investment that guarantees good returns over time. So, if you’re thinking of investing in residential projects in Mumbai, don’t hesitate since the market is going to get bigger and wealthier in the coming decades.