What is Real Estate in India - 2024

Real estate is a form of real property that consists of buildings or homes permanently attached to land. The term 'real estate' means real (or physical) property. The real estate sector in India is blooming at an exponential rate currently valued at $477 billion, just second to the agricultural sector, and contributes 7.3% to the country’s GDP. Types of Real Estate Real Estate consists of physical entities or property and could be characterised into 4 categories: Residential Property Residential real estate includes newly constructed or resale homes for residential purposes. Residential real estate includes studio apartments, residential apartments, 3 BHK flats, 4 BHK flats, and duplexes. Commercial Property Commercial real estate refers to those properties exclusively available for business or commercial purposes. It acts as a great investment opportunity in real estate with a promising high ROI. Commercial real estate includes retail shops, food courts, shopping malls, multiplexes, and office spaces. Industrial Property Industrial real estate refers to physical property that includes buildings and warehouses used exclusively for manufacturing, production, storage and research and development purposes. Plots Plots refer to the kind of physical property that includes vacant land being planned for the construction of a residential property or commercial property. Plots for sale could also include land for agricultural purposes.