The real estate sector in India is poised to become the next big employment generator, with the potential to create millions of jobs in the coming years.
Real EstateEmploymentJobsIndiaConstructionReal Estate MumbaiOct 05, 2024
The real estate sector in India is growing at a phenomenal rate, driven by increasing demand for housing and commercial spaces.
The sector has the potential to create millions of jobs, both directly and indirectly, in areas such as construction, architecture, engineering, and property management.
Major real estate companies in India include DLF, Unitech, and Larsen & Toubro.
Government initiatives such as the Smart Cities Mission and the Affordable Housing Scheme are driving growth in the real estate sector.
The sector is expected to continue its growth trajectory, driven by increasing demand for housing and commercial spaces, and government initiatives and investments in infrastructure development.
Mahindra Lifespace Developers Ltd (MLDL), the real estate arm of Mahindra Group, has been awarded the redevelopment rights for two societies in Mumbai’s prestigious Lokhandwala Complex. The project is estimated to be worth around Rs 1,200 crore and is expected to transform the area with modern infrastructure and amenities.
China aims to create a more stable and regulated real estate market by accelerating its efforts in restructuring the industry, eliminating high debt levels, rapid turnover, and excessive leverage.
The stock of a leading residential real estate developer surged 5% following the acquisition of a 5-acre plot in Yelahanka, Bengaluru, earmarked for a premium residential project.
Uttar Pradesh has emerged as a leading state for new company registrations, trailing only Maharashtra. The state's proximity to Noida, a major industrial hub, and relatively lower real estate costs have made it an attractive destination for investors.
The Maharashtra Housing and Area Development Authority (MHADA) is set to unveil a new policy aimed at providing affordable housing options for the state's residents. This move is expected to address the growing demand for affordable homes in urban areas.
Vibe Realty (VRPL), a prominent player in the real estate sector, has made a significant move by entering Pune's market with the acquisition of a joint development project. Led by industry veteran Gopal Sarda, this strategic move underscores Vibe Realty's commitment to growth and expansion in India's key urban centers.