India's Real Estate Sector to Witness a 20% FDI Growth by 2025
Real estate sector expected to grow exponentially, driven by rapid urbanization and government initiatives.
Real EstateFdiIndiaEconomic GrowthUrbanizationReal Estate NewsJul 10, 2024
The government has taken several steps to bring transparency to the sector, including the introduction of the RERA Act, 2016, which aims to promote disciplined growth and sustainability solutions. Since its enactment, around 1.25 lakh projects have been registered under RERA in pan-India.
According to Pradeep Aggarwal, Chairman of the National Council on Real Estate, Housing and Urban Development, ASSOCHAM, and Chairman of Signature Global (India), the housing and real estate sector needs a constant push to achieve the goal of 'Viksit Bharat' by 2047. This push will also generate more employment opportunities.
The real estate sector is a significant contributor to India's GDP, with a market size of around Rs 24 lakh crore and a GDP contribution of around 13.8%. The government has also decided to further expand the Pradhan Mantri Awas Yojana (PMAY) and construct 3 crore additional rural and urban houses, which will provide a significant boost to the sector.
The expansion of PMAY is expected to address the housing needs of the nation and ensure that every citizen leads a better quality of life. It also highlights the government's commitment to inclusive growth and social welfare.
Information
ASSOCHAM is a non-governmental trade association and advocacy group that aims to promote and support the Indian industry. It has been a champion of the Indian real estate sector and has been working closely with the government to promote the sector's growth.
Signature Global (India) is a leading real estate developer in India, known for its high-quality residential and commercial projects.
Haryana RERA is the regulatory authority for the real estate sector in Haryana, established under the RERA Act, 2016.
Frequently Asked Questions
What is the expected growth rate of FDI in the Indian real estate sector by 2025?
20%
What is the market size of the Indian real estate sector?
Rs 24 lakh crore
What is the GDP contribution of the Indian real estate sector?
13.8%
What is the goal of the government's Pradhan Mantri Awas Yojana (PMAY) scheme?
To provide housing for all and ensure a better quality of life for every citizen
What is the expected impact of the expansion of PMAY on the real estate sector?
A significant boost to the sector, with an increased demand for housing and employment opportunities
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