In simple word, Real Estate is someone’s interest in land. It can be either a leasehold or ownership interest. Basically Leasehold interest only exist when an actual owner of property (land) pass certain rights of the land to a tenant in exchange of money as rent.At another side of real estate, Ownership interest is the interest of an investor who is given the full right of land. The investor takes the whole responsibility of land like paying the taxes of land, claiming the losses due to the different natural disasters, legally using the land. If you have a home that you own, you are said to have an ownership interest in that home. But if you rent an apartment, then in real estate you are supposed to have leasehold interest.
The business of real estate is renting, selling or buying building, lands or housing .The property that includes land and all the resources available in it whether it is natural resources or buildings in it.
In India, Delhi real estate is looked in context of the economic situation of India in wholesome. The Indian economy is boosting with growth rate of GDP 8.5-9% making a group of highly dynamical investor who have significant income. Most of the investor are highly concerned to invest in housing mainly in metro cities. As a result, there are enough residential units sufficient for the next decade, the price is believed to get increase 10-15% in coming five year. Since the salary is not going to increase within five years of this time, if any middle class family is planning to buy a house in real estate of India then they will end up paying their 20 years of salary in order to have their own house. That is very high price to be paid in compare to any of the western part. The lower middle class family with end up looking for rented houses due unaffordable housing resulting the pressure on rental. Thus, the government and the tax office needs to look after and control the selling part in real estate.
Major development of real estate in Delhi, compare to properties in ahmedabad, area is the migration of people to the capital. Since Delhi is the commercial center as well as center of bureaucratic power of North India. Due to the development of different service industries and job opportunities in government sector has resulted the migration and raise in economy of Delhi. Thus to meet the demand of housing of migrated population and office space, it has led to establishment of National Capital region which includes National Capital Territory of Delhi along with selected urban area from the neighboring states of Haryana, Uttar Pradesh and Rajasthan. This region scales total area of 34144 Kilometers.
Out of the numerous regions of National Capital, Noida and Gurgaon has become the micro –market to Delhi. Many investors’ destination has been this satellite town to start real estate activity due to the connectivity of road, availability of large lands, access to talent pooled
Main Categories of real estate in India:
Co-operative Housing Societies