Real Estate Sector & Role in Indian Economy

by LandCraft Developers Real Estate Developers

Today, when Indian Economy is expecting intensification in real estate sector after the dawn of new government, it has become quite obvious that real estate leaders will focus more on delivering high end projects in the capital city of India. Although trends and policies have been affecting and altering the infrastructure and real estate sector since ages, however it won’t be wrong if we say that real estate sector has been the backbone of Indian Economy. It is the second prevalent employer after agriculture and is intended to grow at the scale of 30% over the next decade. The residential property sector alone contributes to 5-6% of the country’s GDP. With existing policies and projects in force, Indian real estate market size is expected to touch $180 billion by 2020.

As per a study revealed by ICRA, the building and construction industry secured 3rd position third among the 14 major sectors when it comes to immediate, circuitous and prompted impacts in all sectors of the Indian Economy.

If the focus has been put to enlarge real estate sector then the economy can expect five times the income, it has the a multiplier impact in all cases. Despite the presence of over 250 ancillary industries, the positive impacts of real estate spread far and wide. Indeed, the dynamic real estate sector is a growth engine for India's economy.

Real estate has been the integral part and will remain the same in the coming decades. Undoubtedly, it’s the outstanding contributor in the financial development of the country. With all these facts and figures, it is clear from the very certainty that the Real Estate Sector helps 8.53% of the aggregate GDP furthermore saw development rate to the tune of 30%. It is quite viable to note that this sector has developed as the fifth biggest destination of Foreign Direct Investment (FDI).

The futuristic oriented approach adopted by leading real estate players have been instrumental in changing the outlook of India from being a developing nation towards quickening its path to a developed nation by creating the state of the art infrastructure and commencing the international level real estate development projects like commercial spaces, townships, shopping centers in the urban cities of India and also in the Tier II & Tier III towns.

Recently, The Central Government has announced spur package in association with the Reserve Bank of India permitting banks to give exceptional treatment to the real estate sector, is prone to have a positive impact. The extraordinary measure of credits or rebates the dominant part of which went to property developers is most likely at the largest amount of any country in across the world.

Indian real estate sector is experiencing a period of move currently its improvement. From being a chaotic area generally, the Indian land segment is steadily moving to turn into a more composed one. This has generally been conceivable because of the section of worldwide land players, outside speculators and Indian corporate houses into the land area. The real estate sector in India has seen incredible development in the previous decade because of fast urbanization, expanding levels of salary and opening up of the part to Foreign Direct Investment (FDI).

Author Bio : Anamika Sinha is an Online Writer for landcraft.in, specializing in real estates, automotive, travel, health, and on various topics for any Residential Properties in Delhi NCR.