Foreign direct investment (FDI) are essential for the progress of any country. In FDI, a company takes control of a business entity in another country. Foreign companies directly participate in day-to-day operations in another country through FDI. In other words, they are bringing more than just money. They are bringing knowledge, skills, and technology as well.
Generally, foreign direct investors look for companies in open economies that provide a skilled workforce and above-average growth prospects. It is also desirable to have light government regulation. It is common for foreign direct investment to go beyond capital investments. Additionally, it may include the provision of management, technology, and equipment. Foreign direct investment has the key feature of establishing effective control over the foreign business or at least substantial influence over its decisions.
Currently, Indian Real Estate is witnessing a growth in foreign investment. There has never been a better time to invest in real estate in India. It has always been a dynamic industry, contributing 7% of the country's GDP and being a significant source of employment. In addition, its contribution is expected to increase to 13% by 2025.
Almost every industry has been impacted by technology, and real estate is no exception. The real estate business has been quick to recognize the potential of technology adoption. Government agencies, on the other hand, have launched numerous initiatives to encourage industry players to do the same. There are several major government projects aimed at making technology more accessible and comprehensive. They include, "Digital India," "Global Housing Technology Challenge," and "India Chain."
Axis Ecorp, which is the fastest growing real estate company too has been taking note of these positive changes in the environment. Given the inflow of FDI in real estate and other sectors, tourism is expected to get a major boost. This in turn will have a ripple effect on the demand for holiday homes. Through its world-class projects such as Axis Blues, Axis Yog Villas, Axis Lake City and Axis Lake City Plaza, the group is offering multiple options for interested buyers.
All these projects are near to the tourism belt of the country in the North of Goa. From these properties, people can enjoy not just the beaches and nightlife of Goa but also other popular tourist spots. Nature lovers can make the most of the trekking tracks around the space. Surrounded by mountains, lakes, and lush greenery, there could not be a better spot to engage with nature.
The real estate market in India has also incorporated technology in the aftermath of the coronavirus outbreak, as more homebuyers are executing their property acquisitions on virtual platforms. Axis Ecorp too has been keeping pace with these changes and offering virtual tours of all its upcoming projects.
There are plenty of positive changes happening in the real estate industry and the fundamentals remain very strong. Despite the increasing interest rates, the short terms, as well as long-term prospects for the Indian real estate industry, are bright, especially given the industry's digitization, which is an inevitable result of the pandemic.