Do you know which is among the most recognised sector today, globally?

The real estate sector, consisting of housing, retail, hospitality, and commercial segments, has been growing steadily over the years, thanks to strong Government impetus, an enabling corporate environment, and demand for housing including affordable housing and office space. In fact, according to research by the Indian Brand Equity Foundation (IBEF), construction ranks third among the top fourteen segments that are propelling the economy of today. The Department for Promotion of Industry and Internal Trade Policy (DPIIT) states that the sector is also the third-largest when it comes to Foreign Direct Investment (FDI) inflow. To get the sector in perspective, in the last two decades, the FDI in construction development and construction activities stood at nearly INR 4300 crores.

A Snapshot – Reality of Realty

The real estate sector

The IBEF states that the real estate market will grow to Rs. 65,000 crores in 2040 from Rs. 12,000 crores in 2019. The sector is poised to grow from a market size of USD 120 billion in 2017 to USD 1 trillion in 2030, contributing 13% to India’s GDP by 2025. This will be on the back of hospitality, retail, and commercial real estate growing steadily. In fact, the Compound Annual Growth Rate (CARG) of the Indian real estate segment is said to increase by 19.5% between 2017 to 2018. When it comes to the housing sector, sales reached 2.61 lakhs units in 2019 across seven major cities in India, as researched by the IBEF. The home sales volume in eight major cities leaped by 2.5 times to over 33,400 units between July and September 2020, as compared to over 9,600 units in the previous quarter of the year, showing recovery after the lockdown imposed by the Government to curb the spread of the Covid pandemic in the country.

Investment Potential

The increasing demand for residential and office space has buoyed the real estate segment over the years, enabling the segment to register consistent growth. The IBEF states that real estate received an overall investment of over Rs. 43, 700 crores in 2019, while the retail segment attracted Private Equity investments of around USD 1 billion in the same year, totaling around USD 14 billion between 2015 and the third quarter of 2019. Between January and March 2020, the sector received an institutional investment of USD 712 million.

Government impetus

The Government of India has played a key role in the real estate sector, providing strong impetus to the segment. It has also partnered with the State Government to initiate various projects, including the Smart City Project that plans to build and develop 100 cities. The IBEF states that to push sectoral growth amid the pandemic and post-lockdown restrictions, the Atmanirbhar Bharat package that was announced by the Finance Minister included income tax relief measures for not only real estate developers, but also home buyers for primary purchase or sale of residential units of value up to Rs. 2 crores, from November 2020 to June 2021. To drive investments and development in the sector, the Government has set aside a corpus of Rs. 25,000 crores as an alternative investment fund. Also, under the Pradhan Mantri Awas Yojana (Urban), 1.12 crores houses have been sanctioned in urban areas, providing 1.2 crores job opportunities. Moreover, for the affordable housing segment, the government has created an Affordable Housing Fund in the National Housing Bank with an amount of Rs.10, 000 crores.

Sectoral Overview

The road ahead for the real-estate sector is one of development, with the growth picking up in the country post the lockdown imposed. Several initiatives have been taken by the government that is easing the process of buying and selling properties. For example, to allow different investors to invest in real –estate, the Real Estate Investment Trust platform has been set up, which will create opportunities amounting to over Rs. 1.25 trillion! Real Estate developers are also doing their bit to ensure that their customers, including potential buyers, buy properties with ease. Developers are investing in centralized processes to manage their properties across the country, linking logistic chains and efficiently utilizing manpower. Realty players are also confronting Government standards, including the provisions of the Real Estate Regulation and Development Act (RERA) that has made the process of buying and building properties transparent.

So if you are a potential home buyer, investing in a property is now possible very easily. All you need to do is make up your mind and get in touch with Get My Ghar to shift to the home of your choice.

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