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The housing sector in India has been undergoing tremendous
changes since last three years. This is the result of
a number of positive policy measures undertaken in financial,
fiscal and legislative fronts by the Government. The
initiation of growth oriented National Housing and Habitat
Policy in 1998 was the triggering point for this unforeseen
growth. In
India, as estimates put it, there is a shortage of about
8 million houses in urban centers and about 14 million
in rural areas. Coupled with India's population growth,
this shortage is demanding great attention, in terms
of investment that will abridge the persistent wide
gap between demand and supply.
From
last year, the housing sector in India has had a real
boost as a result of lowered housing loan interests.
All major banks have brought their interest rates down
and are competing with one another in harnessing customers.
This has resulted in a sudden surge in building activity
in the housing sector. The impact of this development
is felt in a big way in major urban centers. The trend
is trickling down to small and medium towns also, as
is evident from the growth in construction activities.
The
housing sector has tremendous potential to transform
into a growth inducive sector, that supports various
industries right from steel, cement and brick, to nails
and hinges. It also paves the way for more employment
opportunities in skilled as well as unskilled job sectors.
It is worthwhile to note that after agriculture, maximum
employment is generated in India by the construction
industry.
It
is this backdrop and adaptable scenario that GREEN SQUARES
PROPERTY DEVELOPERS LTD. is stepping into, making the
effort to take a different stand.
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