A recent report titled ‘Assessing the Economic Impact of India’s Real Estate Sector’ was issued by the global property consultant ‘CBRE’ to forecast the performance graphs of real estate in India in the next decade. According to the prediction, national real estate will experience a smooth sail if the government cooperates to removes hurdles in infrastructure, by lowering the borrowing cost and shortening the process of approvals, and thus can contribute more towards the economy by accounting to a doubled 13% of GDP by 2025, as compared to 6% recorded in 2013.
Rapid urbanization, demand for new housing as well as hyped trends of towering costs in the Tier I and Tier II cities are more likely to be the precursors of the realty boom in India in the coming years. With this trend analysis, CBRE report further concluded that annual employment opportunities generated in the sector are about to increase from 7.6 million in 2013 to an almost estimated 17.2 million in 2025. More statistical forecasts followed such as the increase of yearly real estate supply from 3.6 billion sq. ft. in 2013 to about 8.2 billion sq ft in 2025, majority focusing on the residential housing segment.
CBRE substantiates its analysis by portraying the fact of rapid urban development in India. Records indicate that within the span of 2001-2011, 71 million people have enrolled their addresses under the urban quota. If this logarithmic graph is inferred, by 2026 Indian cities will be nest to 534 million dwellers.
CBRE substantiates its analysis by portraying the fact of rapid urban development in India. Records indicate that within the span of 2001-2011, 71 million people have enrolled their addresses under the urban quota. If this logarithmic graph is inferred, by 2026 Indian cities will be nest to 534 million dwellers.
