Indian Real Estate Sector Set to Reach Market Size of US$180bn by 2020: CREDAI-JLL

0
454

Kolkata, March 15, 2018: CREDAI in association with their knowledge partner JLL, India’s largest real estate service firm on Wednesday jointly unveiled a report titled ‘Traversing through the epic, predicting the curve at CREDAI Conclave in New Delhi.

The report, that traces 7 trends that will change the way real estate business will happenin the future in India, highlights that the Indian Real Estate Sector is projected  to reach a market size of $180bn by 2020, a sharp rise from $126bn in 2015, a spokesperson of CREDAI-JLL said in a statement here.

The report also reveals that the housing sector’s contribution to the Indian GDP is expected to almost double to more than 11 per cent by 2020 up from estimated 5-6 per cent.

Regulatory reforms, steady demand generated through rapid urbanization, rising household income and the emergence of Affordable Housing and nuclear housing are some of the key drivers of growth for the sector.

According to the report, the ‘architects of changes’ in the form of various revolutionary policies and reforms have paved the way for a highly conducive environment for industry stakeholders which has weaved a new and improved environment for Indian realty, with certain policy based implications expected in the future.

UNI