Contribution of Real Estate in Indian Economy

Contribution of Real Estate in Indian Economy

Real Estate- a name itself attracts people in terms of investment and returns. There has been a great Contribution of Real Estate in Indian Economy since independence. Country’s real estate sector under MODI regime is expected to touch a US$ 1 trillion market size by the year 2030, accounting for 18-20% of India's GDP which is very impressive.

Rapid urbanization and industrialization in the country is pushing the growth of real estate. The sector has contributed into India's GDP to greater extent. According to RBSA Advisors report, the estate sector is expected to grow by 15% and touch $1,000 billion by 2030.

It is an important driver of economic growth as it makes up a large chunk of individual as well as business wealth. One more report says that the real estate will contribute 13% to the country’s GDP by 2025, as per India Brand Equity Foundation (IBEF).

Presently the sector is contributing 6-7% to the country’s total Gross Domestic Product (GDP) and going forward it is expected to reach a market size of $1 trillion by 2030 in India (record from the digital summit that was held on April 22, 2021).

As per some reports, by 2023, the organized retail real estate sector is expected to increase by 28% to 82 million square feet. The sector has seen more improvements thanks to RERA application in the country. After the corona pandemic, the sector has seen huge surge in luxury apartments, villas plots, and independent floors.

Moreover, boost in economic activities, rise in nuclear families and socio-demographic factor has also driven the Indian retail market to a new high. And, of course this has boosted the country’s economy In spite of the slight hike in home loan interest rates and increase in the real estate property prices, the sector has seen uptrend owing to positive buyers’ sentiments. While investing prime location of residential property plays an important role. Great easy connectivity options, business schools, private schools, and other educational institutions in the locality enhance the returns of the properties in long term.

Noida, Greater Noida and Noida Extension are some preferred locations for real estate investments for home buyers and investors. For Enquiry contact our team. As per all the facts and figures, we can conclude that the real estate sector will see great growth in coming years and it will immensely benefit the country’s growing economy. This arena will grow to US$ 9.30 billion by 2040 from US$ 1.72 billion in 2019.