US Real Estate Directory

[JessyMac11]

Ek Bangla Bane Nyara – this golden song of yesteryears seems to be echoing across the country as millions of middle class urbanites now find it within their reach to realize their life’s dream to own a home of their own. And with luxury housing pitching in too, India is truly witnessing a residential real estate boom.

Easy access to cheap housing finance, multiple and affordable real estate options and lifestyle properties are all triggering this boom. While a large number of end users are buying homes, there are also significant numbers of investors or mirrealtors.com Builders Kerala who are going in for residential property purely for the purposes of future returns. It is mostly the metro suburbs, which are witnessing hectic activity in residential property, with high-end villas, row housing, townships and apartment complexes for budget and high-end buyers. The buoyancy in residential market is seen in all metros with huge addition of housing stock and large number of transactions. In Bangalore alone, in the past two years, 7 m sq ft of residential built up space has been added in the suburban areas and 0.5 m sq ft in the CBD.

The significant surge in the home loans is a clear indicator of the housing boom that is sweeping the country. According to the statistics furnished by National Housing bank (NHB), home finance has posted 29 percent growth at rs 53,685 crore during 2003-04 against Rs 41385 cr in the previous year. While loan disbursals by scheduled banks have grown by 39 percent to Rs 32816 crore, those by HFCs shot up by 17 percent to Rs 20,869 crore.
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