The real estate is booming and is a sector, next only to agriculture, which has the maximum growth potential in terms of employment generation and contribution to the GDP (gross domestic product).
This sector, however, is wallowing in neglect and does not even have a status, 'special' or 'industry'. Real estate development should be given special status on a par with industry. Budget 2012-13 has poured cold water on this sector, yet again, and dashed the hopes of developers and builders. Read more
Source : articles.economictimes.indiatimes.com