Indian Real estate sector is on the boom. As India is a developing country, development of infrastructure is the first priority for the Government to attract more and more foreign companies for investment,on other hand, higher income or higher middle class population want to shift itself in the metro cities or in the industrially developed towns.
Now the availability of land in the big metro cities is very less and it is also very expensive. These expensive lands made the flats unaffordable for the middle class.
So, now companies in real estate sector started to target industrially developed towns to develop colony and societies. Flats in these societies are affordable for the middle class and in this way they also get a good environment for the development of their children.
Main reasons behind the lower price of these flats are as follows:-
1. Land is available at lower price
2. Labor cost is also very low.
So, we can say that, India is trying to going in the right direction to become a developed economy. Any country becomes developed only when all parts of the nation are developed. It is a very good trial for the development of the whole country.