Building & Construction
India is undergoing an economic change. With liberalisation economy being ushered in, there is a sudden boom in the wealth of the highest niche of Indian society. The educated middle class is also experiencing a sudden increase in their salaries largely due to the increased importance of India as an offshore unit for Information Technology (IT) jobs in other parts of the world. India presents a source of cheap labour yet the returns are high enough for the Indian IT worker to experience a sudden boom in his or her fortunes.
With this increasing wealth, real estate has also become a major thrust area. With IT enabled service facilities coming up in all the major cities, there is a great need for real estate developers. Shopping malls, multiplexes and plush residential quarters in the form of condominiums are also coming up in almost all major cities. Then there is the controversial Special Economic Zone (SEZ). The flip side to this boom in the real estate sector has been forceful land acquisition and deprivation of the other half of the Indian population, those who do not benefit much from this sudden economic boom.
