India's Real Estate Sector Set for a USD10 Trillion Transformation by 2047
The Indian real estate sector is expected to play a crucial role in the country's economic growth over the next few decades, with a projected transformation worth USD10 trillion by 2047.
Indian Real EstateUsd10 Trillion Transformation2047JllReal Estate SectorReal EstateSep 30, 2024
The sector is poised to play a pivotal role in the country's economic growth over the next few decades. According to a report, the Indian real estate market is expected to grow at a CAGR of 15% from 2023 to 2047, driven by factors such as urbanization, demographic changes, and government initiatives.
The government's focus on affordable housing, smart cities, and infrastructure development is expected to boost the sector's growth. The Pradhan Mantri Awas Yojana (PMAY) scheme, for instance, aims to provide housing for all by 2022, while the Smart Cities Mission aims to develop 100 smart cities across the country.
The commercial real estate sector is also expected to witness significant growth, driven by the increasing demand for office spaces, logistics, and warehousing. The e-commerce sector, in particular, is expected to drive demand for logistics and warehousing spaces.
The sector's growth is also expected to be driven by the increasing use of technology, such as artificial intelligence, blockchain, and the Internet of Things (IoT). These technologies are expected to enhance the efficiency, transparency, and sustainability of the sector.
In addition, the sector is expected to witness significant investment from both domestic and foreign investors. The government's relaxation of foreign direct investment (FDI) norms is expected to attract more foreign investment into the sector.
Overall, the Indian real estate sector is poised for a significant transformation over the next few decades, driven by increasing demand, government initiatives, and technological advancements.
About JLL
JLL is a leading professional services firm that specializes in real estate and investment management. The firm provides a range of services, including property and asset management, leasing, and capital markets.
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The Indian real estate sector has witnessed significant growth over the past few decades, driven by increasing demand for housing, commercial spaces, and infrastructure development. The sector is expected to continue growing, driven by factors such as urbanization, demographic changes, and government initiatives.
JLL is a leading professional services firm that specializes in real estate and investment management. The firm provides a range of services, including property and asset management, leasing, and capital markets.
Frequently Asked Questions
What is the projected worth of the Indian real estate sector by 2047?
The Indian real estate sector is expected to be worth USD10 trillion by 2047.
What are the factors driving the growth of the Indian real estate sector?
The growth of the Indian real estate sector is driven by factors such as urbanization, demographic changes, and government initiatives.
What is the government's focus on affordable housing?
The government's focus on affordable housing is aimed at providing housing for all by 2022 through the Pradhan Mantri Awas Yojana (PMAY) scheme.
What is the expected growth rate of the Indian real estate market from 2023 to 2047?
The Indian real estate market is expected to grow at a CAGR of 15% from 2023 to 2047.
What is the role of technology in the Indian real estate sector?
Technology, such as artificial intelligence, blockchain, and the Internet of Things (IoT), is expected to enhance the efficiency, transparency, and sustainability of the Indian real estate sector.
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