India’s Real Estate Journey: From Hunter-Gatherers to Urban Expansion
By Atul Goel
Pune, 6th September 2024: The story of settlement and property ownership began when our ancestors decided to abandon the nomadic life of hunter-gatherers. They settled down, built dwellings, and marked spaces as their own. The story unfolded further as ownership of land or space became a marker of wealth and fortune. Empires came into existence by acquiring more and more land. India is no different in this regard.
The story of modern-day real estate started with the advent of private land and property ownership. It no longer remained within the purview of only the wealthy. The Industrial Revolution, urbanization, and progress impacted its evolution, with infrastructural development coming into the picture.
India’s real estate sector underwent major changes in the post-independence era. Public housing projects were launched by the government in the 1950s and 1960s to provide housing. Cities expanded, and the urban population grew manifold. No wonder housing remained a problem that needed a solution. The emergence of private developers brought a huge relief. A major shift happened. Apart from private housing gaining more and more popularity, the development of new real estate segments like luxury housing, commercial real estate, etc., also occurred.
