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VOL. 11, ISSUE 4 (2024)
Economic analysis of the real estate industry's difficulties & potential possibilities
Authors
Dr. Pushpa Dewangan
Abstract
After the primary and agricultural industries,
the Indian real estate industry is one of the biggest in our nation. These
industries make up between 6 and 7.5 percent of the Indian labor market and
provide a significant number of jobs for the unorganized sector. The industry
benefited greatly during the post-liberalization era, when India emerged as a
popular destination for foreign direct investment (FDI), with several new
businesses popping up daily and middle-class earnings rising quickly. Hui. It
has grown significantly during the 1990s, and the real estate market is booming
in Indian metropolises like Chennai, Mumbai, Delhi, and Kolkata. Although the
Indian real estate market is expanding at a pace of over 20% annually and
accounts for roughly 6-7 percent of the country's GDP, supply and demand cannot
be balanced. Over the past ten years, there has been a sharp rise in the demand
for homes. It has been unable to meet the growing needs despite government
efforts and initiatives through a number of programs. Profiting from the
circumstance, private entrepreneurs took over the real estate market with
little regard for customer desire. The industry has been slowing considerably
during the last ten years for a number of reasons, including corporate
limitations, frequent changes to government regulations, and a slowing economy.
In this research, we critically analyze and examine the current trends and
patterns of several real estate industry elements. We describe the problem and
the specifics of the impediment in this study. Additionally, offer some remedial
measures that need to help the industry and attempt to return it to its
illustrious past, when it was expanding rapidly.
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Pages:103-105
How to cite this article:
Dr. Pushpa Dewangan "Economic analysis of the real estate industry's difficulties & potential possibilities". International Journal of Multidisciplinary Research and Development, Vol 11, Issue 4, 2024, Pages 103-105
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