India's real estate market is expected to increase seven times to reach US$ 853 billion by 2028 from US$ 121 billion in 2013. It is currently the fourth-largest sector in the country in terms of foreign direct investment (FDI) inflows.
INDIAN REAL ESTATE AT A GLANCE IN 2014 - 2015
The Indian real estate market size is expected to touch US$ 180 billion by year 2020. The housing sector contributes 5-6 per cent to the country's gross domestic product (GDP). In FY08-20, the market size of this sector is expected to increase at a compound annual growth rate (CAGR) of 11.2 per cent. Real estate has emerged as the second most active sector, raising US$ 1.2 billion from private equity (PE) investors in 2014.According to a study by Knight Frank, Mumbai is the best city in India for commercial real estate investment, with returns of 12-19 per cent likely in the next five years, followed by Bengaluru and Delhi-National Capital Region (NCR). Also, Delhi-NCR was the biggest office market in India with 110 million sq ft, out of which 88 million sq ft were occupied. Sectors such as IT and ITeS, retail, consulting and e-commerce have registered high demand for office space.
India's real estate market is expected to increase seven times to reach US$ 853 billion by 2028 from US$ 121 billion in 2013. It is currently the fourth-largest sector in the country in terms of foreign direct investment (FDI) inflows.
FDI in the sector is estimated to grow to US$ 25 billion in 10 years.Real estate contribution to India's gross domestic product (GDP) is estimated to increase to about 13 per cent by 2028.The Government of India has allocated US$ 1.3 billion for Rural Housing Fund in the Union Budget 2014-15.It has also allocated US$ 0.7 billion for National Housing Bank (NHB) to increase the flow of cheaper credit for affordable housing for the poor.Emergence of nuclear families and growing urbanization predicts an uptrend for the Indian Real Estate Industry in the years to come.
India's real estate market is expected to increase seven times to reach US$ 853 billion by 2028 from US$ 121 billion in 2013. It is currently the fourth-largest sector in the country in terms of foreign direct investment (FDI) inflows.
