Abstract

India is literally galloping in Industrial Development. The traditional identity of agrarian economy is superseded by rapid industrialization. The country accords top priority for industrial growth. We have a commendable presence in World Trade Organization as well. India is considered as the mouthpiece of developing nations. Multinational Companies evince keen interest in having joint venture with Indian Corporates. They consider India as the safe platform for their industrial investment here. This, appreciably promotes employment opportunities in the country. People from rural areas move to urban areas seeking employment. The industrial pay structure is also reasonable enough enabling people have a good disposable income. The accumulation of people in the city necessitates more of living space in the city. The rental cost in the city is getting dearer. This results in construction of more number of apartments in multi storied buildings in the city and the outskirts of same. Another important thing that deserves mention is the easily available long term institutional finance for youngsters. They prefer to buy an apartment rather than going in for rental accommodation as, in comparison, the EMI is much better than paying rent which does not give them any benefit at all.

Authors and Affiliations