The Growth of Construction Industry
India is one of the fastest growing economies in the world. In recent years, most Indian states have made rapid stride toward growth and development. The state of Maharashtra too is no exception here! According to the latest report by credit rating agency Brickwork Ratings, Maharashtra is the biggest economy within India. Its construction industry has contributed significantly in the growth of the state’s economy.
Over the past few years, significant construction activity has taken place in the state. The level of construction activity in Maharashtra can be gauged from the fact that it is one of the most attractive destinations for private investors in the realty sector. In 2014-15, the state cornered 22 percent of private investment in real estate. There are several factors that have made Maharashtra one of the best destinations for real estate investment. These include improving macroeconomic conditions, recovering demand and increasing capital requirements in the realty sector.
The Maharashtra government recently eased construction norms for industries. Also, the decision to implement the approval of the ambitious ‘Housing for All’ scheme was cleared by the Maharashtra cabinet. This scheme focuses on rehabilitation of slum dwellers with the help of private developers. Under the scheme, affordable housing will be provided to the economically-backward sections of the society. The private developers participating in the scheme will build housing complexes to meet the affordable housing requirements of people. Both these factors are likely to give a push to the construction sector in the coming months.
Maharashtra is a great destination for real estate investors planning to make a profitable investment in the property. With several new projects coming up, investing in real estate will help businesses reap rich rewards in the coming years. However, when it comes to investing in Maharashtra’s construction sector, it is important to have the right information and knowledge.
It is essential for real estate developers to choose the right projects that provide high return on investment. Availing the services of a reliable online tender portal may prove to be very useful in this regard. Tender Detail is one of the best online platforms where the investors can find all information related to construction tenders in Maharashtra and other Indian states.
Tender Detail provides you the latest information about construction tenders related to building construction, road construction, bridge construction, railway construction etc. Information for tenders of other industries such as IT and Telecom, Power, Medical Equipment, Electrical, Scientific Instruments etc. is also available at this innovative platform.