KOCHI: A revival in the economic sector and the rise in consumer incomes are creating a huge boom in the sale of homes in India. The housing market is presently at its best in over fifteen years, the leading real estate consultancy firm, JLL India's new research report revealed. A total of 2.6 lakh houses are expected to be sold in the present financial year. 1.96 lakh houses were sold between April to December.

The Reserve Bank is expected to reduce the key interest rate by the middle of next year as inflation comes under control. Suresh Gopinathan, a leading chartered accountant and financial expert in Kochi, said that with this, the real estate market will get a huge boost. Stock and gold markets have seen historic progress in the present year. He added that the real estate market will turn out to be a profitable sector in the next year.

Investment interest is mostly seen in the sale of small and medium-sized houses. In the first nine months of the financial year, various real estate firms sold 45,592 houses priced between Rs 50-75 lakh. 42,919 houses priced between Rs 1.5 crore and Rs 3 crore were sold in the premium segment during this period.