Cities in southern India, such as Bangalore, Hyderabad, and Chennai, contributed almost 27% of the sales in the residential sector, and the NCR region contributed more than 15% share of the sales. In the first quarter of 2021, more than 58,300 units were sold, with Mumbai Metropolitan Region (MMR) and Pune holding more than a 53% share of sales. Moreover, the growth is driven by various factors such as rapid urbanization, a rise in the number of nuclear families, easy availability of home loans, etc. Major developers are focusing on affordable and mid-range housing units to meet increasing demand in the country. Residential Sector Witnessing Lucrative Growth By Property TypeĬustomized per your requirements. The report offers market size and forecasts for all the above segments in value (USD billion). In the report, the Indian real estate market is segmented by property type (residential, office, retail, hospitality, and industrial) and by key cities (Bengaluru, Mumbai, Pune, Chennai, and Hyderabad). The report also covers the impact of the COVID-19 pandemic on the market. Furthermore, the Indian real estate market report covers a complete background analysis of the industry, including current economic and market scenario, market size estimation for key segments, emerging trends in the market segments, and market dynamics. The real estate sector includes various phases of property dealings, such as developing, selling, buying, leasing, and management processes in the industrial sector, residential sector, etc. The government is also providing a boost to affordable housing construction, interest subsidy for home buyers, service tax exemption, Dividend Distribution Tax (DDT) exemption, PR for foreign investors, etc. This is further contributing to the economy of the country.įurthermore, the government has initiated key policies for the development of the real estate sector, such as the Real Estate Regulatory Act (RERA) and the Benami Transactions Act.
Moreover, the growth of the real estate market in the country is supported by increasing industrial activities, rapid urbanization, and improved income levels. However, real estate is the second largest sector in the country after agriculture in terms of providing employment opportunities.
However, the sector is in a recovering phase due to an increase in house sales, new project launches, and increasing demand for new office and commercial spaces, etc. In addition, the residential sector was the worst hit as strict lockdown measures across major cities in India impacted housing sales as home registrations were suspended and home loan disbursement was slow. The country’s real estate market was affected by the COVID-19 pandemic. The Indian real estate market is expected to register a CAGR of more than 15% during the forecast period.
0 kommentar(er)
