Author: Ethane Shields

DLF Universal is coming up with the biggest mall of the world called as the Mall of India.

With the population of our country increasing at a fast pace, standards of living skyrocketing each day, there is a growing dearth of space in India. To be more precise, we are developing at a high speed too and it’s a classic case of law of Demand & Supply in the Real-Estate India. An ever-increasing demand of legal land combined with the limited space available to us has let to the booming of Real Estate Industry in India to its peak. The real estate industry has two main components – Retail & Residential properties India. Retail can be exemplified by the development of malls & multiplexes in various cities across India, while Residential is what we need to build our sweet homes, the ultimate dream of every settled man & wife. With the growing wave of urbanization in every town & city, the malls & apartments are bound to scale up, hence giving rise to a new economic strand – Real Estate Industry. In India, the major cities, which are capable of carrying on the economic boom through Real estate sector, are New Delhi, Mumbai, Kolkata, Chennai, Hyderabad, Bangalore, Gurgaon & Noida. New Delhi/NCR, can be undoubtedly called as the hub of Real estate industry in India. Also a recent report by Merrill Lynch states that the number of malls in Delhi, Mumbai, Bangalore, and Hyderabad & Pune is expected to grow to 250 by 2010. Also a survey by Knight Frank India states that there was a total of 12.4 million square feet of space available for malls in these cities. Take for example DLF Universal is coming up with the biggest mall of the world called as the Mall of India. All this does affect the investor or the buyer who find it difficult to pay such huge prices and hence leaves reins in the hands of few ultra rich billionaires who can finally afford the cost. On the other hand take Kolkata, the real estate prices is relatively cheap as the residential areas are still affordable considering that IT/ITES sector has just started emerging big there just as the way boom in IT/ITES sector in Delhi has triggered real estate development in Gurgaon and Noida. Also in Chennai, as the city does not provide much available commercial space India so most of the development in real estate is likely to take place in its suburban areas like Old Mahabalipuram, Radhakrishan Salai etc. In Mumbai the cost of land is not as much high as in Delhi but the cost of development is fuelling high, also the price margins of the brokers and retailers is also a factor here in the real estate economy of Mumbai.

About Author

Ethane Shields is a known author, writer in Real Estate, currently working as a content writer for website http://www.realtymantra.com/ with profound knowledge in real estate properties. All your queries about real estate property and realty trends are welcome at ethane.shields@gmail.com