Construction and Real Estate Sector Poised for Significant Growth: Rohit Gupta

The construction and real estate sector is poised for significant growth over the next 15 to 20 years and could emerge as a trillion-dollar industry by 2030, said Rohit Gupta, Managing Director of Mantra Group on Saturday.

Speaking about the future of the sector, Gupta emphasized that housing remains one of the three basic human necessities alongside food and clothing. With the rising population and increasing disposable incomes, the demand for housing is expected to grow steadily, providing the construction industry with a strong and promising future.

He observed that the demand pattern in housing has changed considerably in recent years. The era of compact homes is fading. As people’s incomes rise, so do their aspirations. Today, buyers are increasingly preferring 2,000 sq ft apartments over smaller 700–800 sq ft homes, he said.

Gupta pointed out that constructing smaller affordable homes has become commercially challenging for developers. Prices of key construction materials such as cement and steel remain high regardless of project size, while profit margins in smaller housing projects are extremely limited. Even minor market fluctuations can disturb the financial viability of such developments, he added.

He also stressed the need for government incentives to encourage developers to build affordable housing projects. According to him, policy support and concessions would help boost the supply of budget-friendly homes.

Commenting on global factors affecting the industry, Gupta said ongoing conflicts and geopolitical tensions across several parts of the world are driving up construction material costs. If the war-like situation remains short-term, developers may absorb some losses and maintain stable prices. However, if it continues beyond six months, a rise in property prices will become unavoidable, he said.

Gupta further noted that urban development trends are changing rapidly. Earlier, cities expanded horizontally through suburban growth, but now vertical expansion through high-rise developments is becoming the dominant trend.

Highlighting Pune’s potential, he said Pune offers immense opportunities for the construction sector. Its proximity to Mumbai, expanding infrastructure, strong IT and manufacturing presence, quality educational institutions, and relatively affordable lifestyle compared to metros like Bengaluru and Hyderabad make it an attractive destination for homebuyers, including those from rural areas.

The Mantra Group, under the leadership of Rohit Gupta, is a prominent player in the Indian real estate market, known for its innovative projects and commitment to sustainable development. The company has a strong presence in key cities and is actively contributing to the growth of the real estate sector in India.