Future Growth in Real Estate Industry by Some of the Best Realtors of India

Real estate sector in India is expected to reach a market size of US$ 1 trillion by 2030 and contribute to 13 per cent of the country’s GDP by 2025. Retail, hospitality and commercial real estate are also growing significantly, providing the much-needed infrastructure for India’s growing needs.

Some of the recent stunning factors that has drawn our attention to the real estate sector:

• Housing launches across top eight Indian cities increased 75 per cent in 2018 to 182,207 units.
• In March 2019, Embassy Office Parks, India’s first real estate investment trust (REIT) went public.
• Warehousing space in top eight Indian cities increased 22 per cent y-o-y in 2018 to 169 mn sq. ft.
• Around 5.1 million sq. ft. of retail space became operational in top seven Indian cities in 2018.
• In May 2018, Blackstone Group acquired One Indiabulls in Chennai from Indiabulls Real Estate for around Rs 900 crore (US$ 136.9 million).
• In February 2018, DLF bought 11.76 acres of land for Rs 15 billion (US$ 231.7 million) for its expansion in Gurugram, Haryana.

Estate management has seen a recent boom as the Government of India along with the governments of the respective states has taken several initiatives to encourage the development in the sector. Most marked change has been the shift from family owned businesses to that of professionally managed ones.

The Indian property loan market is on the rise with several govt schemes that makes home loans easily available. The rapid urbanization and growth would be equivalent to the need to develop real estate properties be it hotels, airports, hospitals or homes and by 2024, the industry has to build three times of what has been built in the last two hundred years.

The real estate industry needs skilled, professional employees and the education for the same cannot be self learnt in today’s day and age. We are at such a crossroad in this industry that in the next 4 years massive changes are bound to happen. Cities like Bengaluru is expected to be the most favoured property investment destination for NRIs, followed by Ahmedabad, Pune, Chennai, Goa, Delhi and Dehradun. Estate management professionals in this type of a landscape will be most sought after.