Modular Kitchens to Drive Indian Housing Market
Changing lifestyle and higher disposable income is inducing India modular kitchen market to grow at a CAGR of around 33% during 2010-2014, says RNCOS in its latest research report.
(prHWY.com) July 31, 2011 - NOIDA, India -- According to our new report, "Indian Housing Sector Analysis", the residential market in India is the most important segment of the booming real-estate sector. The demand for housing in India has increased substantially with the growing prosperity and economic growth. Moreover, with the improvement of infrastructure and availability of high quality facilities that are comparable with those found elsewhere in the world, residential property in India is witnessing increasing demand for people who are interested in investing in this sector. The demand for high quality and exclusive residential property has grown substantially in recent years with people from large slums becoming privileged to own property and pay for plush luxury with all amenities in place.
As per our research, modular kitchens are rapidly becoming integral part of the Indian residential market. The rapidly growing residential complexes, changing lifestyle, and Western influence have stimulated the demand for modular kitchen across the country. Besides, the companies are also offering lucrative price range for both value conscious and luxury seekers, inducing high demand for modular kitchens. Consequently, we anticipate that the modular kitchen market in India will grow at a CAGR of around 33% during 2010-2014.
Further, our report reveals that affordable housing segment is witnessing a remarkable growth in demand as it is targeting the economically weaker class and lower-income groups, which constitutes majority of the Indian housing industry, both in terms of value and volume. Medium housing segment is also witnessing fast growth, especially in Tier-1 and Tier-2 cities. Besides, luxury housing is also expected to witness significant growth in the coming years as this market segment is comparatively very small and possesses huge potential for further developments. As far as super luxury housing segment is concerned, latest industry trends and developments are skewed towards the segment.
Our report "Indian Housing Sector Analysis", provides a detailed analysis of the housing sectors in India. It provides present and future outlook of the housing market taking into consideration the effect of global economic crisis on the housing sector of the country. Additionally, the report sheds light on the emerging industry trends and discusses the market structure along with current and past market performance of the Indian housing industry.
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