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Indian realty to become trillion dollar industry by 2030

Indian realty to become trillion dollar industry by 2030

Estimates suggest that from $120 billion in 2017, the Indian real estate sector has the potential to evolve into a $650-billion industry by 2025. During this colossal transformation, the sector’s contribution to GDP is projected to go up from the present 7 percent to 13 percent. Even as the new paradigm in post-RERA scenario ensures this does happen, we also need to factor in ground realities that will play a major role in shaping it into an economy of trillion dollars.
Globally, real estate development is an important parameter to measure economic growth. If one just looks at the demand for homes in India, the growth potential is huge. Initiatives by the government, including ‘Housing for All by 2022’, offer major growth potential, not just for the industry but also for economic development and GDP growth. Indian real estate is the engine which will power the Indian economy into the ‘big league’. From the ancillary industries that it supports job creation – easily, the next in line after agriculture and manufacturing – Indian real estate has the potential to reach the magic figure of ‘trillion dollars’.

That is the destination; let us look at the route map to achieve this. A KPMG report released at NAREDCO and APREA’s Real Estate & Infrastructure Investors’ Summit in Mumbai last year stated that the Indian real estate will be a $1-trillion industry by 2030, and outlined the plan of action for this endeavor.
This will boost it to being the third-largest economy globally – and this growth will be driven by not just the huge demand for homes, but also new and emerging asset classes within the sector, such as affordable housing, co-working spaces, warehousing, and logistics, to name a few. The ‘ease of flow’ which will ensure this happens easily is the post-RERA transparent regulatory environment powered by the economy, taxation reforms and most prominently, rise in the ranks of EODB.

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