Real Estate is the Real Assets of Every Country

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The development of the real estate sector in India over the past 20 decades has been marked by significant changes and growth. The sector has evolved from being mostly unorganized and unstructured to a more organized and regulated industry.

 


In the early 2000s, the real estate sector in India was mostly unorganized and unstructured. The industry was dominated by small developers, and there were very few large players. Additionally, the sector was not regulated, and there were very few laws in place to protect the rights of buyers and sellers. However, in the following decade, the government started to introduce policies and regulations to promote the growth of the industry. The Real Estate (Regulation and Development) Act (RERA) was passed in 2016, which aimed to increase transparency and accountability in the real estate sector.

 


In the next decade, 2010s, the real estate sector in India saw a significant increase in the use of technology and digitalization. Many developers started to use digital channels such as websites and mobile apps to sell properties. Additionally, the use of data analytics and machine learning has also helped to make the process of buying and selling properties more efficient. The sector also saw the growth of co-working and co-living spaces, which have become a popular option for people looking for flexible and affordable housing options.

The last decade, 2020s, has seen an impact of COVID-19 pandemic on the real estate sector. Due to the pandemic, there has been a slowdown in the demand for properties, especially in the commercial real estate sector. However, the demand for affordable housing and rental properties has increased due to the shift towards remote working and studying. Additionally, the government has introduced various policies and schemes to promote the growth of the affordable housing sector.

 


In conclusion, the development of the real estate sector in India over the past 20 decades has been marked by significant changes and growth. The sector has evolved from being mostly unorganized and unstructured to a more organized and regulated industry. The use of technology and digitalization has also been a major driver in this change, which has helped to make the process of buying and selling properties more efficient. The COVID-19 pandemic has also had an impact on the real estate sector, but the government's policies and schemes to promote the growth of the affordable housing sector has helped to counter the negative effects.

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