The modern pace of lifestyle and opportunities is attracting more workers and skilled personnel towards urban India which is causing the residential properties to increase. According to data, India stands at number 10 when it comes to real estate appreciation in the global market.
The stocks from the organized sector of real estate are hinted to increase by 28%, which is about 82 million sq.ft. by the year 2023. ICRA also estimates in a report that firms in India have the space to raise about $48 billion with help of investment trusts when compared to the current capital of $29 billion.
Shining reports from the industry states that top-tier venture capital group, Blackstone, which already invested about $50 billion in Indian real estate is said to put an additional $22 billion by 2030. In India, the real estate market attracted an institutional investment of about $5 billion in 2020.
Real Estate Market Size-
We all understand that the real estate industry is one of the most globally appreciated sectors. The industry includes sub-sectors like housing, retail along with commercial and hospitality. Here, the growth equates its development with the sustainable efforts of the corporate sector.
The space required for offices in urban and semi-urban regions plays a pivotal role in shaping the real estate industry. Across all the verticals of an economy, the construction sector stands at rank three from the major 14 niches when relating direct, and indirectly coupled with induced outcomes.
Our nation generates the most amount of employment in the agricultural sector. The real estate industry generates the second most number of jobs in India. Considering the growth trajectory, the future holds more possibilities of non-resident Indians (NRI) investing on both long term and short term basis. Cities like Bangalore, Ahmedabad, Pune, Goa, Delhi along with Chennai and Dehradun should come top in the list when it comes to NRI real estate investment.
In 2019, the real estate market in India was about $1.72 billion. It is expected that the real estate industry in India should reach a market size of about $1 trillion by 2030. Due to impressive growth in business and industry in India, sectors like retail, and commercial purpose real estate are also increasing leading to a rise in demand in infrastructure.
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