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Housing Projects in India

Along with developments in transport, tourism, and community welfare, India has strongly witnessed progress in the infrastructural development segment. The real estate market has been booming significantly since the 1950 after the constitutional laws in India introduced several plans to boost the economy in terms of housing, both commercial and residential units. In modern India, the major cities like Delhi, Mumbai, Kolkata, Chennai, Ahmedabad, and Hyderabad has pushed the earning from real estate to major heights. Housing projects in India has also become an important investment area for the real estate agents, investors, brokers, buyers, and sellers. The builders and contractors are gaining hugely with the demand for housing increasing three-folds in the past 10 years. The types of housing project in India that gained more prominence were that for the middle-income group.


Types of housing projects in India


The housing projects in India have been broadly divided into two categories- 

Ø      The residential housing projects in India


These projects cater to individuals who are looking out to have their own dream homes. Often people do not hesitate to spend a fortune and lifetime savings on purchasing a home. The residential projects would be of 1-5 BHK apartments, villas, bungalows, penthouses, garden homes, and independent homes. Construction of homes has all kinds of facilities depending upon the location, area, and prices. Many residential projects also offer various facilities and amenities to its residents such as swimming pool, gym, play ground, children’s park, community hall, garden etc. The multi-storied buildings have elevators. They have their own securities as well. The residential housing projects generally targets three different categories of individuals – High Income Group (HIG), Middle Income Group (MIG) and Low Income Group (LIG). Many housing projects in India comprise of accommodations for all the three categories of people. However, there can also be some projects which are solely dedicated to a single category.


Ø      Commercial housing projects in India


The commercial housing projects are part of the industrial boom that took place in the post-independence era. Those towns and cities in India that are industrially and technologically advanced are seeing more and more foreign companies seeking for office space. The retail and goods market is also part of the commercial estates in India.


Major housing projects in India


Residential projects in India:  Several cities in India are experiencing boom in the residential market. Here are few prospective and featured major housing projects in India.


·        Park Prime:  This is the residential luxury from the house of BPTP- one of the largest real estate firm operators in India. Park Prime is deemed as a world-class residential unit located in the city of Gurgaon Sector 66. Meeting international standards, it is spread across 11 acres and might be thrown open to the public in 2012.


·        Courtyard:  This is a residential cum commercial project coming up within the lush greenery of Nagpur. Initiated by the Gladstone Infrastructure Ltd, it is located on the express highway. This residential complex have been deemed to host both affordable and luxury apartments and would be available below existing market rates.


Commercial housing projects in India


·        Flexi Square:  In one of the most celebrated townships of Lucknow- Sushant Golf City that is spread over 3500 acres you will find Flexi Tower. This commercial plaza will have a built up area of 1.6 lakhs approximately and will be 70 feet high with exclusive food court, entertainment zone, and high-speed lift facilities. Dealers can book premium office and retail space in this complex.


·        Prices:  The apartments in these housing projects in India vary according to their location, city, facilities, amenities, and square unit area. They can be priced at Rs 13 lakhs onwards in cities like Delhi, Kolkata, Lucknow, Nagpur, and Hyderabad. Some parts of Mumbai, Bangalore and Pune would be costlier than any other cities in India.