Real Estate Sector in Developing Cities: Analysis of Commercial & Residential Projects in Siliguri

Abstract

Real estate is one of the most rapidly growing sectors in the Indian economy, and it also offers excellent investment opportunities. The real estate sector in India is increasing at a pace of 20 to 25% each year, providing around 5% to 7% of the country's GDP (Gross Domestic Product). Real estate also promotes the expansion of ancillary industries like as cement, steel, and bricks, which are all growing at the same time. The real estate sector is divided into four sub-sectors: housing, retail, hospitality, and commercial, each of which contributes differently to India's GDP. For the analysis of the problem Porters five forces model have been used. Also, to better understand the performance of the industry the value chain analysis and Porters Generic model is used. Furthermore, the study attempts to compare and contrast residential and commercial projects, as well as the impact of numerous factors on project success. To arrive at a valid outcome, secondary data was gathered. The study's findings found that the project's location is critical to its success, that the project's completion time is a constraint in meeting present demand, and that there are numerous opportunities and threats in the market that provide potential for growth.