Urban sociologists, city planners and social scientists have so far focused only on those cities that have been greatly benefited by the fast pace of globalization. Even though a lot of studies have been done and much has been written about the real estate development in cities in the developed countries, cities in the developing countries have not been studied in depth. This happened because cities in these countries were not at the core of the global urban system and global economy in those days.
Since most economies in the third world started liberalizing very recently, and also because the impact of globalization in these cities was slow and varied and a vast majority of the developing countries are still urbanizing, it took some time for them to catch up with the real estate developments in the developed world.
However
Real Estate Investment in India is now the hot topic of discussion in blogs and in other medias mainly due to the continuously booming Indian economy, which is being looked upon by the investor community from across the globe. Just before the Reliance IPO (Initial Public Offer), the IPO of a premier real estate development company has been subscribed within record time, a testimony to the investor confidence in the real estate sector in India.
It is a fact that all booming economies across the world had similar real estate developments, when the need arose for more apartment space and office spaces. But the real estate developments in India must be considered as an exception, because even in those cities where not much development was seen, land values started appreciating mostly as a fall out of the nearly double-digit annual growth rates.
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