Haryana ahead in Real Estate Sector
While high interest rates on home loans and global economic uncertainty are slowing down in the Real Estate sector, Realty investment in Haryana seem to be on rise. According a report, Haryana saw almost 50 per cent of its investment coming in the real estate sector as of December 2011.
Thanks to the growth in the service industry, mainly in Gurgaon. In Haryana alone services sector has accounted for about 34 per cent of its total investment as of December 2011. The services sector attracts good chunk of investment in the states which were fancied by investors in the realty sector. With Gurgaon becoming a hub of domestic and multi-national companies, the real estate development was the focal point in Haryana as the sector attracted 49.7 per cent of the total investment in the state. Of the total investment of Rs 4.98 lakh crore as on December 2011, the real estate sector accounted for Rs 2.48 lakh crore in Haryana. The other towns contributing to the growth are Faridabad, Sonepat, Ambala, Panipat and Karnal where the realty sector is growing fast.
The real estate industry is attracting significant investments in seven of the 20 top well-performing states even as the property market is facing slowdown. The other states attracting sizeable investment in the sector includes Uttar Pradesh, Maharashtra, Gujarat, Karnataka, Andhra Pradesh, Tamil Nadu, Rajasthan and Punjab.