Real Estate Industry in India
The
Indian real estate market is expected to touch USD 180 bn by the year 2020. In
India, Real Estate sector is the second largest employer after agriculture and
is slated to grow at 30 per cent over the next decade. The sector has been the
major beneficiary of the strong economic growth witnessed in India since the
year 2000.There are many allied industries which benefit from growth of the
real estate sector. That is why this sector has a huge multiplier effect on the economy.So as
this sector grows, the national income grows multifold. The Finance Minister
has allocated Rs.4000Cr for low cost housing and Rs. 50000 Cr. for urban
housing.
According
to ICRA, the construction industry ranks 3rd among the 14 major
sectors which has direct, indirect and induced effects in all the sectors of
the economy. This means that it not only generates employment in Real
Estate sector but also stimulates demand in other related sectors like cement,
steel, brick, paint, consumer durables, etc. Private equity (PE) funding has
picked up in the last one year due to attractive valuations. The Indian
Government introducing newer policies which arehelpful to real estate and due
to that this sector has gained sufficient growth in recent times.
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