Real Estate in India: The real estate market in India is poised for a monumental surge with projections reaching a staggering 1.5 trillion US Dollars by 2034. A report released by the Confederation of Indian Industry (CII) in collaboration with Knight Frank has highlighted a robust forecast for the Indian real estate sector. The report showed a significant upward trajectory in stocks and Exchange-Traded Funds (ETFs).
According to the report, several factors such as growing residential demand, increase in the need for contemporary office space, expanding hospitality, retail sector, etc catering to the growing consumption needs of the growing population with increased income levels, are adding an impetus to the real estate sector in the country.
“In terms of output, the market size of India’s real estate sector is currently estimated at USD 482 bn contributing 7.3 per cent to the total economic output. By 2034, India’s real estate sector is expected to expand to USD 1.5 tn contributing 10.5% to the total economic output.,” the report said.
As the realty market forecast reflects a remarkable surge, investors and stakeholders are paying close attention to the promising prospects within the real estate landscape. The CII-Knight Frank report also serves as a guiding beacon for real estate developers, offering valuable insights into market dynamics, trends, and investment opportunities. It also underscores the importance of navigating the evolving landscape of the country’s real estate sector.
Gaurav K Singh, Founder and Chairman, of Womeki Group, said, “The report emphasizes strategic initiatives to harness this growth potential, while also advocating for the leveraging of technology in confluence with India’s skilled workforce and supportive government policies to address infrastructure and logistic challenges, through sustainable and innovative construction practices. As India’s economy surges towards USD 10.3 trillion by 2034, the real estate sector stands as a cornerstone, ushering in a brighter and more prosperous tomorrow.”
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