Unleashing the Potential of Indian Real Estate: A Key to Viksit Bharat
India's real estate sector is poised to become the primary economic engine of the country
Real EstateIndian EconomyInfrastructureEconomic GrowthGdpReal Estate NewsMay 30, 2024
In India's current dynamic economic landscape, the real estate industry plays a pivotal role in fuelling substantial growth and setting a definitive roadmap towards the collective $5 Trillion goal. The sector has the potential to become the primary economic engine of this country. The holistic growth impact that real estate possesses is also validated by the recent sheer volume that has coincided with strong Quarter-on-quarter GDP numbers.
Positioning real estate as a focal point of economic growth is crucial. Policies aimed at fostering growth should prioritize stability, transparency, and efficiency within the sector. Incentivizing homebuyers and developers through effective policymaking, rationalizing the cost of raw materials, and implementing measures to boost affordable housing are key to unlocking the sector's complete potential.
A thriving real estate sector serves as a linchpin for bolstering various macroeconomic indicators, including employment generation, GDP growth, and per capita income. The sector's impact transcends mere infrastructure development, intertwining with multiple facets of the economy. Consequently, policies aimed at nurturing real estate should be accorded the highest priority, recognizing its pivotal role in driving sustained economic expansion.
Real estate and infrastructure have been the keystone of India's economy, consistently serving as a barometer for the nation's progress. With India's economic liberalization in 1991 and subsequent GDP acceleration, the late 1990s marked a crucial growth phase where the Indian real estate sector emerged as a key driver of comprehensive development, leveraging its multi-sectoral impact.
CREDAI National is the apex body of real estate developers in India, working towards promoting the sector's growth and development. The organization aims to create a conducive ecosystem for the sector, fostering collaboration between stakeholders and policymakers.
Frequently Asked Questions
What is the potential of the Indian real estate sector?
The sector has the potential to become the primary economic engine of the country driving growth and development
How can the Indian real estate sector contribute to GDP growth?
A thriving real estate sector serves as a hub for GDP growth with its performance having a multiplier effect on the overall economy
What are the key areas that policymakers should focus on to unlock the sector's complete potential?
Policymakers should focus on incentivizing homebuyers and developers rationalizing the cost of raw materials and implementing measures to boost affordable housing
What is the impact of a thriving real estate sector on employment generation?
A thriving real estate sector generates employment opportunities spanning from construction workers to architects and urban planners with the sector currently generating a total employment of 6 08 CR
How does the real estate sector contribute to per capita income growth?
The influx of jobs and the subsequent rise in disposable income translate into improved living standards for citizens fuelling consumption and spurring demand across various sectors
Related News Articles
Massive Violation of Real Estate Laws: 900 Property Documents Found Non-Compliant in Pune, Mumbai, and Thane
Over 900 property documents in Pune, Mumbai, and Thane districts have been found violating MahaRERA and Fragmentation Act norms, highlighting widespread malpractices in property registrations.
Medanta Hospital Wins Mhada Auction for 2.2-Acre Oshiwara Plot in Mumbai
Get insights into the bids and developments in Mumbai real estate, as Medanta hospital acquires a 2.2-acre Mhada plot in Oshiwara for Rs 125 crore.
MahaRERA's Checklist: Essential Details to Verify Before Buying a Home
MahaRERA has issued guidelines to help property buyers ensure they are investing in safe and legally compliant projects. Check out the essential details to verify before signing any agreement.
The Rise of Plotted Developments in India: A New Era in Real Estate
The real estate sector in India is witnessing a significant shift with the surge in plotted developments. Developers are responding to the changing market dynamics and consumer preferences, marking a new era in the industry.
Investments in Ukraine: Maksym Krippa Becomes Co-Owner of Kyiv Developer DIM
Maksym Krippa, a prominent Ukrainian businessman, has become a co-owner of DIM, a leading real estate developer in Kyiv. This strategic move aims to bolster DIM’s market position amid the ongoing economic challenges.
Maharashtra's Innovative Step: Mandating Precast Construction to Combat Air Pollution
Maharashtra is taking a significant step towards reducing air pollution by mandating precast construction for Mumbai's real estate sector. This bold move, led by Environment Minister Pankaja, aims to create a more sustainable and eco-friendly urban enviro