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Indian Real Estate Industry Growing, Changing, And Redeveloping All At The Same Time?

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Indian Real Estate Industry Growing, Changing, And Redeveloping All At The Same Time?

  • 16 Jul 2023

The Indian real estate market appears to be in good form, according to a joint study by Grant Thornton Bharat and the PHD Chamber of Commerce and Industry (PHDCCI). The sector is simultaneously expanding, changing, and redeveloping due to optimistic investor attitude. According to the analysis, India's real estate market has a growth potential of 18% by 2030. The industry is currently expanding between 7% and 8%.

The report was published at a time when India's real estate sector has risen to become the nation's second-highest producer of jobs. Currently, the real estate sector contributes 5% to 6% of India's GDP. The report also states that by 2025, the sector will probably contribute 13% of the nation's GDP.

According to the research, some of the growing asset classes include student housing, co-working spaces, shared housing, co-living spaces, data centres, warehousing, and senior assisted living. Expert opinions indicate that these segments have had tremendous growth in Tier 1 and Tier 2 cities. Real estate investors are considering buying homes outside of major cities due to rising prices and a lack of available space.

It's interesting to note that the rise of the work-from-home trend has raised demand for co-working facilities. Additionally, vacation homes are in high demand throughout India. The government has invested a lot of money on infrastructure and connectivity initiatives. In Tier 1 and Tier 2 cities, the real estate market has expanded as a result of all these causes.

In addition, the government has developed a number of laws and rules to help the real estate industry continue on its upward trajectory. These include the Make in India and Pradhan Mantri Awas Yojana (PMAY) programmes as well as the Smart City and FDI programmes. This has caused the real estate sector to become more recognised, formalised, and successful. The PMAY-U data shows that around INR 8.28 lakh crore has been spent on building affordable dwellings in cities and towns all throughout the nation.

The Indian real estate market appears to be in good form, according to a joint study by Grant Thornton Bharat and the PHD Chamber of Commerce and Industry (PHDCCI). The sector is simultaneously expanding, changing, and redeveloping due to optimistic investor attitude. According to the analysis, India's real estate market has a growth potential of 18% by 2030. The industry is currently expanding between 7% and 8%.

The report was published at a time when India's real estate sector has risen to become the nation's second-highest producer of jobs. Currently, the real estate sector contributes 5% to 6% of India's GDP. The report also states that by 2025, the sector will probably contribute 13% of the nation's GDP.

According to the research, some of the growing asset classes include student housing, co-working spaces, shared housing, co-living spaces, data centres, warehousing, and senior assisted living. Expert opinions indicate that these segments have had tremendous growth in Tier 1 and Tier 2 cities. Real estate investors are considering buying homes outside of major cities due to rising prices and a lack of available space.

It's interesting to note that the rise of the work-from-home trend has raised demand for co-working facilities. Additionally, vacation homes are in high demand throughout India. The government has invested a lot of money on infrastructure and connectivity initiatives. In Tier 1 and Tier 2 cities, the real estate market has expanded as a result of all these causes.

In addition, the government has developed a number of laws and rules to help the real estate industry continue on its upward trajectory. These include the Make in India and Pradhan Mantri Awas Yojana (PMAY) programmes as well as the Smart City and FDI programmes. This has caused the real estate sector to become more recognised, formalised, and successful. The PMAY-U data shows that around INR 8.28 lakh crore has been spent on building affordable dwellings in cities and towns all throughout the nation.

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