ISSUES AND CHALLENGES OF REAL ESTATE SECTOR WITH SPECIAL REFERENCE TO HOUSING: A CASE STUDY OF URBAN INDIA

Abstract

Real estate sector has its close associations with the corporate world and is known for developmental activities related to housing, retail, hospitality, and commercial. The scenario of real estate is different in developed and developing countries in terms of availability of land, land-related laws, economic conditions, demography, etc. Real estate growth is affected by factors both acting within the country and those prevailing at the global level. In India, real estate growth is taking place at a much faster pace due to the expansion of the information technology (IT) sector, multi-national companies (MNC), and corporate firms. In addition, flexible loan schemes and improved income levels of people have made them invest more in the housing sector. But delay in possession, inadequate infrastructure, and inefficient and compromised results leave urban dwellers dissatisfied. The present paper discusses issues and challenges of the real estate sector with special reference to housing. The study also analyses the growth of the real estate sector in the light of major metropolitan regions of India.