As the world economy slips into recession hitting the demand hard and the banking sector takes conservative approach towards lending to corporate sector, the CEOs Survey based GDP growth forecast done by Associated Chamber of Commerce and Industry (ASSOCHAM) Business Barometer (ABB) has downgraded it to 7.1 per cent for 2008-09 and predicted it to be 6.5 per cent for FY 2009-10. 83 per cent of the 250 CEOs surveyed by the ASSOCHAM projected the GDP growth for FY 2008-09 at 7.1 per cent with strong waves of negative economic sentiments flowing in the economy.
Real estate has contribute in the economic growth of the nation and is growing at a very fast pace. It has been witnessed that the real estate sector of India has developed remarkably, contributing to the economic growth and revenue of the nation. With the recent hike in the property prices, the real estate have also seen an elevation and is one of the most promising sectors that will help in economic development and progress of the nation.
I agree that real estate is contributing immensely today towards the growth of India's economy. It is now one of the most promising sectors and with the soaring of property price the real estate sector is developing. This sector is helping the nation progress and develop in the economic front.
Although the statistics put up are little outdated, the trend actually prevails in the same manner. The real estate sector is not doing pretty well over the past few years and will continue to be so until next few years. There is a wide gap between the markets and income what people are receiving. In short, there are no returns for what people spend. Similar is the case in USA. Homes are going to get costlier in USA. Its a global trend. India alone cannot surpass it.
Hello, As per my knowledge the real estate business is boom. Prices of room are increases. So, those who have rooms already for them it is good but those who are buying room now or in future for them the situation is tight. Thanks
