Kerala residential industry is booming and according to a recent estimate is growing at the rate of 30 % per annum. It is considered the most lucrative industry of the current era.
It has been estimated that the total shortage of residential properties in India is to the tune of 24.71 million units. Faced with shortage of residential properties, government is contemplating taking private developers and builders on board to meet the constant demand of residential properties in cities and towns.
Property being one of the most costly commodities is considered as a very crucial investment by individuals. Before deciding on a particular property, most people take as much advice as possible and often involve an acquaintance or relative. The person from whom the advice is solicited is generally among the first few people to get to know about the need. These needs are the most important element for any business. Since the property sector has been adjudged the most lucrative field in India, these needs have created the friend circle of a prospective buyer, part-time realty agents.
More than a number of people, consultancy and finance companies have jumped into the field of property. The demand for Kerala flat and other residential properties is constantly increasing whereas the supply ratio of the same is very low. This has resulted in skyrocketing of price of the same.
The government increased the home loan interest rates as well as imposed certain restrictions on realty IPOs, pre-launching etc. to overcome the spiraling prices of residential properties.
.
