“India is the cradle of the human race, the birthplace of human speech, the mother of history, the grandmother of legend, and the great grandmother of tradition. Our most valuable and most astrictive materials in the history of man are treasured up in India only!”
This saying reflects the glory of a prosperous and sovereign nation which has given so much to the world! India – A country known for its cultural differences stays bonded by the spirit of unity and oneness even today. Breaking the shackles of slavery, India witnessed the sunrise of freedom and liberty on the 15th of August 1947.
Today when we celebrate 65 years of Independence, a look into the past will reveal the remarkable growth our country has achieved in all major frontiers. A country which has been the birthplace of incredible talent proudly speaks of its multifaceted growth attained over the years. From business to sports, India is at the forefront ready to take on newer challenges.
The transition of the Indian economy from the ‘Soviet Model’ to ‘Free Market’ has been noteworthy. The ‘Post Independence Economy’ made its way to liberalization with better economic and trade reforms. The national infrastructure gained a facelift with implementation of quality amendments made to the policies which were then predominant.
Now after 65 years of Independence, India sits high on the pedestal of growth. One of the major contributors of this quick-paced development is the Indian real estate industry. Better infrastructure, higher incomes have boosted the realty sector of India which in turn has increased the volume of real estate oriented transactions in our country.
Here are some incredible facts about the present and future of the Indian real estate industry:
• The real estate of India is the second largest employment generating industry.
• The Indian real estate sector contributes to 5-6% of the national GDP.
• This sector invites highest Foreign Direct Investment (FDI). Housing and its related sectors have invited a FDI of USD 11,170 million since 2000.
• The Indian realty is expected to grow into a USD 180 billion industry by 2020.
• Returns to be generated from this sector is fixed at 14% per annum.
• Residential spaces will grow at the pace of 34% per annum.
• The annual growth rate for commercial spaces is expected to be around 10-15%.
In recent times, there has been a gradual shift from traditional realty approach to logistics, warehousing and infrastructure centered development. The Indian realty has been successful in testing cross market waters as well.
With robust strategies targeting multidimensional growth, the future of Indian realty promises comprehensive development which will be looked upon for its multitudinal achievements.