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The gross domestic product (GDP) or the economic growth of India has been witnessing a progressive advance in the last 10 years and has resulted in an increase of the amount of goods and services produced by the economy. The GDP growth rate which was measured in percentage after adjusting the inflation aspects has shown an increase when compared to the previous year.
The Gross domestic product (GDP) is the market value of all the final goods and services produced by a country in a given period. The GDP indicates a country’s standard of living and is not a measure of personal income.
The GDP of a country is determined in three ways which gives the same result;
The most used GDP approach is the product approach which totals up all the outputs of every class of enterprise in order to get the actual total. Similarly, the expenditure method is based on the concept that all the products must be sought by somebody and the value of the total product should be equal to the consumer’s total expenditure while buying goods.
The income approach of calculating the GDP is based on a factor that the incomes of the productive factors should be equal to the value of their product by determining the GDP based on the sum of the producer’s income.
Every country records its productivity levels through a GDP. The increased productivity shows the increase in goods and services which are produced with the same capital, materials, labour and energy. The GDP is balanced with a growth in the population, based through mapping and the common man’s standard of living.
The GDP growth lead to growth in the per capita income and increase in demand for housing. Following are some points to be considered before an investment.
What can a property buyer do in such case?
There are many options available in the property market for the buyer like; few of the developers and builders have land which is banked for many years. Similarly, there are properties which are offered in the second sale market. Thirdly, there are many projects which are launched under the banner of affordable or the budget homes. Henceforth, the buyer has all these options while buying a home.
A home buyer should also consider the right time before investing in any property along with factors like the location of the property, size of the property, the value of the property and so on. Considering the above points will help the buyer in a great deal.
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This is really nice and informative. Thank you.
Yes,GDP of the country depends on the standard of living of an individual and as per 2012 the GDP growth of our country is improving.
I agree,GDP growth has a direct relation with industrial production ,property development,agricultural growth and also bank dealings
The builders increased the property price, showing that the GDP is high (8 to 10%, India is shining etc.) from 2000 to 2011. But now in July 2012 the GDP of india is slowly falling (5.5%) and hence the property price also has to come down right in the end 2012 ?.