INDIAN REAL ESTATE AT A GLANCE IN 2021 - 2022
The real estate sector is the second-highest employer, after the agriculture sector in India. It is also this Real Estate Industry that incurs more non-resident Indian (NRI) investment. Bengaluru is the most favoured property investment destination for NRIs, followed by Ahmedabad, Pune, Chennai, Goa, Delhi and Dehradun.
India’s real estate sector saw over 1,700 acres of land deals in the top 7 cities in 2021. Foreign investments in the commercial real estate sector were at US$ 10.3 billion between 2017-21. The Information Technology (IT/ITeS) sector dominated with a 41% share in 2021, followed by BSFI and Manufacturing sectors with 16% each, while other services recorded 17% and 10%, respectively.
Around 40 million square feet were delivered in India in 2021. It is expected that the country will have a 40% market share in the next 2-3 years. India is expected to deliver 46 million square feet in 2022. The real estate demand for data centres is expected to increase by 15-18 million sq. ft. by 2025.
India’s gross leasing volume in the top 8 cities stood at 16.2 this was 12.4% quarter to quarter growth in 2021. India’s net absorption of the office market stood at 11.56 million square feet in quarter four of 2021. An additional 25 million units of affordable housing are required by 2030 to meet the growth in the country’s urban population according to industry experts.
Real Estate FutureBy 2040, the Indian real estate market will grow to Rs. 65,000 crore (US$ 9.30 billion) from Rs. 12,000 crore (US$ 1.72 billion) in 2019. Real estate sector in India is expected to reach US$ 1 trillion in market size by 2030, up from US$ 200 billion in 2021 and contribute about 13% to the country’s GDP by 2025.
