{"id":27900,"date":"2015-04-04T03:47:05","date_gmt":"2015-04-04T03:47:05","guid":{"rendered":"http:\/\/vskills.in\/certification\/blog\/?p=27900"},"modified":"2024-04-03T13:21:43","modified_gmt":"2024-04-03T07:51:43","slug":"real-estate-relevance-and-changes","status":"publish","type":"post","link":"https:\/\/www.vskills.in\/certification\/blog\/real-estate-relevance-and-changes\/","title":{"rendered":"Real Estate-Relevance and Changes"},"content":{"rendered":"<p style=\"text-align: center;\"><a ref=\"magnificPopup\" href=\"http:\/\/vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/04\/Real-Estate-Relevance-and-Changes.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-28009\" alt=\"Real Estate-Relevance and Changes\" src=\"http:\/\/vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/04\/Real-Estate-Relevance-and-Changes-300x163.jpg\" width=\"300\" height=\"163\" srcset=\"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/04\/Real-Estate-Relevance-and-Changes-300x163.jpg 300w, https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/04\/Real-Estate-Relevance-and-Changes.jpg 304w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>Real estate refers to\u00a0Property comprised of land and the buildings on it\u00a0as well as the natural resources of the land including uncultivated flora and fauna, farmed crops and livestock, water and minerals.However,based on its use it is divided into three broad categories-<strong>residential, commercial and industrial<\/strong>.High growth in services and manufacturing sector has led to high demand for commercial and real estate.<\/p>\n<p>There are different factors that act as drivers for the growth of real estate:<\/p>\n<ul>\n<li><span style=\"line-height: 13px;\">Rise of middle class<\/span><\/li>\n<li>Decline of joint families<\/li>\n<li>Easy availability of finance<\/li>\n<li>Increasing tourism<\/li>\n<li>Fiscal policies and rising <strong>FDI<\/strong><\/li>\n<li>Strong demographics<\/li>\n<li>International and medical<strong> tourism<\/strong><\/li>\n<li>Developments of new streams of business.<\/li>\n<\/ul>\n<p>Special economic zones have been set up to promote real estate businesses.Their main objectives are-<\/p>\n<ol>\n<li><span style=\"line-height: 13px;\">Generation of\u00a0additional\u00a0economic activities<\/span><\/li>\n<li>Promotion of exports of goods and services<\/li>\n<li>Promotions of investments from domestic and foreign sources<\/li>\n<li>Creation of employment opportunities<\/li>\n<li>Development of infrastructure facilities in the country.<\/li>\n<\/ol>\n<p>Various initiates have been taken by the government in order enhance real estate sector activities and therefore a number of policies have also been framed.There has been a drastic curtailment in the restrictive policies such as the Urban Land Ceiling and the Regulations Act over the years.Also,there have been <strong>reforms<\/strong> in the Integrated Township Policy.<strong>Liberalization<\/strong> of FDI rules,emergence of real estate funds and the range of government benefits and<strong> incentives<\/strong> including residential tax breaks has further provided aid to the sector for its growth and development.<\/p>\n<p>Some of the major players in the real estate business are-<\/p>\n<p>DLF Group, Ansals, Parsavnath Developers,Unitech Group and K Raheja.<\/p>\n<p><strong>Subprime crisis<\/strong> is a situation starting in 2008 affecting the mortgage industry due\u00a0to borrowers\u00a0being approved for loans\u00a0they could not afford. As a result, a significant\u00a0rise in foreclosures\u00a0led to the collapse\u00a0of many lending institutions\u00a0and hedge funds. The financial crisis\u00a0in the mortgage industry also affected the\u00a0global credit market\u00a0resulting in higher interest rates\u00a0and reduced availability\u00a0of credit.<\/p>\n<p>Development of Real Estate in India includes development of temples of modern India,townships,programming houses and green buildings.However, there have been certain barriers to the growth of real estate in India.They are-<\/p>\n<ul>\n<li><span style=\"line-height: 13px;\">Skill shortage<\/span><\/li>\n<li>Non availability of statistics<\/li>\n<li>Overvaluation of property<\/li>\n<li>High Fragmentation<\/li>\n<li>Lack of transparency.<\/li>\n<\/ul>\n<p>Recession has also largely impacted real estate.The key issues that led to recession are incomplete previous projects,bad debts,less demands in all segments and cash starvation.Companies like DLF which is a major player has taken certain steps to overcome these issues-<\/p>\n<ol>\n<li><span style=\"line-height: 13px;\">Launching affordable housing projects<\/span><\/li>\n<li>Paying short term debt by raising long term debt<\/li>\n<li>Sale of properties for liquidity preservation<\/li>\n<li>Terminated projects with long gestation period<\/li>\n<li>Tight cash flow that would help in cost reduction.<\/li>\n<\/ol>\n<p>Measures taken to tackle the challenges have reaped results but India still needs to go a long way in facing and overcoming the new challenges by making a shift in its strategies and policies.Future expectations are that close to<strong> $8 Billion<\/strong> would flow into the Indian real estate market.There would be a significant increase in project execution through Public-Private partnerships.The demands for office and industrial space would increase and hence,the current levels of investments made are insufficient to bridge the gap between demand and supply.<\/p>\n<p><em>\u00a0<a href=\"http:\/\/www.vskills.in\/certification\/Real-Estate\">Click here for government certification in Real Estate<\/a><\/em><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Real estate refers to\u00a0Property comprised of land and the buildings on it\u00a0as well as the natural resources of the land including uncultivated flora and fauna, farmed crops and livestock, water and minerals.However,based on its use it is divided into three broad categories-residential, commercial and industrial.High growth in services and manufacturing sector has led to high&#8230;<\/p>\n","protected":false},"author":1056,"featured_media":28009,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[1553],"tags":[3011,2137,3010,2230,3012],"class_list":["post-27900","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-barriers","tag-growth","tag-property","tag-real-estate-2","tag-subprime-crisis"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - 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