How the IT Sector Contributed to FDI in Real Estate

By Madhusudhan Rao

The Golden Land The breeze from the west
One day deep down the sleeping corridors of India, someone in the midst of his slumber caught the faint fragrance in the breeze which blew from the West. He got up put on his finest clothes and turned the knobs of his door; what he helped to usher in was a whole lot of aroma that marked the beginning of a time when India stepped into an active zone of information technology. From then on the enabled services became a part of history and it lives up to the point now where turning back would mean a great loss. Then the country grew; then the space expanded and then people rewrote their future. There was support indeed from the authorities; what resulted was a grant to FDI investments India and the analogous outcome was a growth rate of more than 6%.

Need for Space
Information Technology was not something small and true to its spirit, the word spread; the revolution, the numerous opportunities and the lower cost of production were just a few reasons in the big list to create the Delhi, Hyderabad, Bangalore and Mumbai we see around. The need for space was considered and reconsidered and that was the point from which, suburbs of the big centre started showing prospects. One attractive investment and the area showed the result; one offer and the land created value. As days went past, India understood the scenario; food, clothing, shelter and a safe investment became the motto. Now an average man had something to boast about; the small plot that held his small roof have placed him by the side of the people who worth crores.

And then the miracle happened
With Information Technology came the new avenues for education. Technical education center changed the way men learned. With an addition of over a lakh jobs in the year 2005-06, outsourcing sector became one of the fastest employment provider. There the investors came forward; they wanted land, land that could be used for infrastructure creation, land that could create apartments for the neo outsourcers and land that had the potential to generate a whole new style of education for the work force. The needs were more; what were called for were better transport, better schooling, better playgrounds, better entertainment and what not. The person who ushered progress finally felt its coming; it was more a chain reaction and like Midas, whatever it touched turned to gold; the best of its effort fell on land and then the miracle happened- it turned gold.