India’s real estate sector projected to reach USD 180 billion by 2020

By Ashish R. Puravankara, Managing Director, Puravankara Limited and President of CREDAI Bangalore.

New Delhi, March 21, 2018:  Buoyant about India’s real estate sector projected to reach USD 180 billion by 2020, Ashish R. Puravankara, Managing Director, Puravankara Limited and President of CREDAI Bangalore says, ‘The Indian real estate sector is poised at a better position today with the market and consumer sentiment bouncing back. The government’s decision to introduce RERA has created a positive impact for serious and focused developers like us. The latest reports and trends are indicating housing market is slowly getting back on track and this is encouraging. These indicators will prompt builders to focus on the product, price and to rethink their business model. If you build an attractive product, price it well, promise to build on time PEOPLE WILL BUY.

The growth of affordable housing segment has further augmented the market as mid-size home buyers are opting to buy homes that comes with certain quality, features and good amenities. All key Indian cities – Delhi, Mumbai, Bengaluru, Hyderabad, Chennai, Kolkata, Ahmedabad and Pune along with emerging markets like Coimbatore, Mangalore, Goa will see a big demand in the affordable housing segment in 2018 and 2019. We will expect developers to launch more projects in this category and we at Puravankara, through our affordable housing arm Provident Housing is committed towards this journey of offering ‘affordable housing’ for all, as seen with the recent launches in Bengaluru and Goa.’

Corporate Comm India(CCI Newswire)