Market size to grow to $180 b

Indian Real Estate Sector is projected to reach a market size of $180bn by 2020, a sharp rise from $126bn in 2015. This was revealed in a report released at CREDAI Conclave earlier this week. CREDAI in association with ITS knowledge partner JLL, jointly released the report titled ‘Traversing through the epic, predicting the curve’.

The report traces seven trends that will change the way real estate business will happen in the future in India.

The report also reveals that the housing sector’s contribution to the Indian GDP is expected to almost double to more than 11 per cent by 2020 up from estimated 5-6 per cent. Regulatory reforms, steady demand generated through rapid urbanisation, rising household income and the emergence of affordable housing and nuclear housing are some of the key drivers of growth for the sector.

According to the report, the ‘architects of changes’ in the form of various revolutionary policies and reforms have paved the way for a highly conducive environment for industry stakeholders which has weaved a new and improved environment for Indian realty, with certain policy based implications expected in the future.

The seven future altering trends that will transform the indian real estate sector as per the report are:

n Real Estate Regulatory Act (RERA)

n Goods and Services Tax (GST)

n FDI Policy

n Affordable Housing

n Real Estate Investment Trust (REITs)

n Technology and Use of Prop – Tech

n Alternative Asset Classes — TNS