The
Indian economy has seen a great transformation in the last decade. Along with this, all the industrial
sectors are facing the side-effects of this change. It will not be an
exaggeration to call India as the fastest growing economy worldwide. It has
shown a flat 8% GDP growth for the last few years. It has shown unchanged
growth in various sectors like retail, IT, infrastructure and real estate. Now
the real estate industry is flourishing with a rapid pace along with the other
industries. It is mainly because maximum number of sectors are directly or
indirectly linked to the real estate.
Expanding
market is the rule, people are following
in the real estate market during the era of globalization. This process was
first endorsed by the United Nations in the year 1997 during a conference on
trade and development. This is also declared as a very fast track method of
real estate development. The maximum number of real estate companies focus on
guarding the property against the impact of globalization, but that is not very
feasible in the competitive market. During this discussion, J. Timothy Lake,
the chairman of IRDC says that the real estate firms do not keep a separate
strategy for the international market.
This
way of devastating real estate market due to the impact of globalization is
known as “corporate disaggregation.” Maximum number of real estate companies in
India are trying to fill up this gap through an efficient way. Due to the
effect of globalization, many firms are seen unknowingly fighting with one
another over a deal.
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