Real estate is one of those rare sectors that marginally get affected by Inflation. The obvious reason is that shelter is one of the basic...
Real estate is one of those rare sectors that marginally get affected by Inflation. The obvious reason is that shelter is one of the basic human requirements. India has witnessed a mammoth rise in the real estate sector. Earlier, real estate business was restricted to people having an influential political connection or mostly land mafias were ruling the chart. But, this scenario has changed drastically after the introduction of the RERA (Regulation and Development) Act (RERA) 2016. The main purpose of this Act is to safeguard property investment by bringing in more transparency in the sector.
India is a booming economy with ceaseless population growth. It is one of the most significant factors behind the growing real estate demand in India for both commercial and residential projects. Mumbai tops the chart for both real estate supply and demands to have the highest number of high-rises in India followed by New Delhi, Bangalore, and Hyderabad. Uttar Pradesh, being the fifth most populous state in India has also become a hotspot for real estate. Noida tops the chart in Uttar Pradesh followed by Lucknow and Kanpur taking up the third spot.
Kanpur is going through a major facelift when it comes to real estate and especially residential projects. People are opting for a modern lifestyle over the traditional way of living. Real estate in Kanpur is on an all-time high making it a prime location for both investors and end-users. Some of the recently developed real estate projects in Kanpur are of international standard.
Let’s take a quick look at some of the reasons for this phenomenon:
To sum it up, Kanpur is moving at a fast pace and all the stars are also aligning to make it the next Noida. This is quite evident from the fact that most of the big real estate companies in India have already marked their territory and the rest are at least doing a retrospective of their future possibilities.
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