REAL ESTATE SECTOR

Real estate sector is always seen as backbone of Indian economy. This sector was ignored by investors for a long time. But now a days, it is the most favorable investment option in India. The popularity of real estate in India can be determined from the fact that to buy a piece of land in the metropolitan requires a person to pay a huge amount. Most of the real estate developers have now shifted their focus on 3-tier cities. Various developers are now investing huge amount of money to buy the large pieces of land.

It is quite clear that not only the metropolitan cities but 2-tier and 3-tier cities are also wooing investors. Another symbol of this real estate boom in India can be seen with the emergence of shopping malls. Investors are also showing interest in malls in lucknow and haryana kind of cities.

The charm of real estate has drawn unwanted attention of mafia and gangster in the field. Therefore, government has made changes in investment laws for real estate.

In law, the word real means relating to a thing (res/rei, thing, from O.Fr. reel, from L.L. realis "actual," from Latin. res, "matter, thing" ), as distinguished from a person. Thus the law broadly distinguishes between "real" property (land and anything affixed to it) and "personal" property (everything else, e.g., clothing, furniture, money). The conceptual difference was between immovable property, which would transfer title along with the land, and movable property, which a person would retain title to. The oldest use of the term "Real Estate" that has been preserved in historical records was in 1666.

The use of "real" to refer to land also reflects the ancient preference for land, and the ownership thereof (and the owners thereof). This, in turn reflects the values of the medieval feudal system, which is the ultimate root of the common law.

Some have claimed that the word Real is derived from "royal" (The word royal—and its Spanish cognate real—come from the related Latin word rex-regis, meaning king. For hundreds of years the Royal family / King owned the land, and the peasants paid rent or property taxes to be on the Royal's land. Today, just like hundreds of years in the past, we pay property taxes, or rent to be on the government's land or the Royal Estate). However, the "real" in "real property" is derived from the Latin for "thing".