News

Wednesday
November, 29

Real estate sector set to expand to $5.8 trillion by 2047: report

Featured in:


India’s real estate sector is expected to expand to $5.8 trillion by 2047, contributing 15.5 per cent to the GDP from an existing share of 7.3 per cent, a joint report by Knight Frank and National Real Estate Development Council (Naredeco) said.

The report ‘India Real Estate: Vision 2047’ stated that the residential segment will have an overwhelming share in the real estate sector. “By 2047, when India reaches 100 years of independence, the size of India’s economy is estimated to range between $33-40 trillion,” it said.

Also read: SEBI plans to bring follow-on offer rules for REITs, InvITs

The report noted that private equity investments in the Indian real estate sector have consistently grown over the past two decades and from a projected figure of $5.6 billion in 2023, it is expected to reach $54.3 billion by 2047, an annual growth of 9.5 per cent.

According to Knight Frank, in the next 25 years, cumulatively, there will be an estimated 230 million units of housing requirement in India. In terms of market value, the residential market has the potential to generate an output equivalent of $3.5 trillion in 2047.





Source link

Find us on

Latest articles

- Advertisement - spot_imgspot_img

Related articles

PLASTEX 2024: Celebrating 30 Years and Pioneering the Next...

PLASTEX 2024: Celebrating 30 Years and Pioneering the Next Era of Plastics and Rubber Solutions in MENA Under...

Rohit Sharma: World Cup: Why Team India needs Rohit...

NEW DELHI: On that terrible Sunday night in Ahmedabad, Rohit Sharma must have felt incredibly alone...

Pakistan: ‘US lawmakers call for suspension of assistance to...

NEW DELHI: In a significant move, eleven members of the US Congress have sent a letter...

Average to poor work life balance: Indian IT sector...

Indian IT employees are working longer hours than the industry standard, according to data sourced by...

U.S. Chamber, Confederation of Indian Industry Host U.S. Commerce...

U.S. Chamber, Confederation of Indian Industry Host U.S. Commerce Secretary Raimondo and Indian Minister of Commerce Goyal,...

Trump & Biden too old for presidency: Florida Guv...

Miami, Nov 20 (IANS) Florida Governor Ron DeSantis, a Republican candidate for the 2024 presidential...