Nabil Yusuf Patel Reveals: 8 Interesting facts about the Indian real estate sectorby Shruti Sharma Content Curator
India's real estate sector is one of the fastest-growing sectors in India. It’s world-renowned for its iconic structures and the ever-changing market dynamics. Buyers from all across the world are interested in investing in this market. If you are interested in the Indian real estate sector and what its pioneers like Nabil Yusuf Patel thinks, here are a few interesting facts :
According to prominent real estate developers like Nabil Patel Director DB Realty, a lot of people depend on the internet as a preferred medium of home search in India. It is estimated that there are around 462 million internet users across the country and India has one of the biggest online markets in the world. According to a survey, as many as 20 million Indians search for homes on the internet every month. Internet influences nearly 53 per cent of all the real estate transactions in India.
The agriculture industry is the largest employer in the country. Right behind it, the real estate sector stands as the second-largest employer. Also, immense growth is expected from this sector in the near future. It is estimated, the real estate sector contributes around five to six per cent to the country's GDP.
It is the second-largest residential colony in Asia
The second-largest residential colony is in Kankarbagh in Patna which covers an area of 900 acres. This mini-township has many facilities that include a sports facility, many restaurants, hospitals, multiple schools, a park and shopping complexes.
India has the record of having the second-highest number of households
It is estimated that there are around 248,408,494 households in India. India scores the second position, right behind China. Shockingly, this number is higher than the population of half of the world's countries.
Number of houses that are vacant
According to a survey in 2015, it is estimated that nearly 10.2 million houses in India are not used by anyone. They just stay vacant.
From kutcha to pucca
In the year 1961, nearly 13.3 per cent houses had concrete structures in India. The later years witnessed significant growth. By 2011, the number rose to 77.5 per cent.
The market size is Ever-growing
The India Brand Equity Foundation (IBEF) released a report according to which exponential growth is expected in the Indian real estate market by 2020 which can reach $180 billion. The compound annual growth rate (CAGR) at which the market size expansion is assumed is 11.2 per cent.
Investments pour in
The foreign direct investment (FDI) in the Indian real estate sector between April 2000 and March 2016 was $24.188 billion. Out of total inflows into the country, the total cumulative inflows was accounted for 8.4 per cent in the construction development sector.
Created on Nov 27th 2019 23:38. Viewed 381 times.