{"id":21726,"date":"2013-07-29T11:40:06","date_gmt":"2013-07-29T06:10:06","guid":{"rendered":"http:\/\/www.bharatestates.com\/blog\/?p=21726"},"modified":"2020-06-15T03:51:31","modified_gmt":"2020-06-14T22:21:31","slug":"21726-real-estate-attributed-for-6-3-of-indias-gdp","status":"publish","type":"post","link":"https:\/\/www.bharatestates.com\/blog\/21726-real-estate-attributed-for-6-3-of-indias-gdp\/","title":{"rendered":"Real Estate Attributed for 6.3% of India’s GDP"},"content":{"rendered":"

\"RE-GDP\"New Delhi<\/strong>: It was already known that the real estate industry is the second largest employer in India, after agriculture. A report by global property consultants CBRE Group showed that India’s real estate sector contributed to 6.3% of the country’s GDP in 2013. 7.6 million jobs have been generated by the sector in 2013.The report called ‘Assessing the Economic Impact of India’s Real Estate Sector’ said, “The Indian real estate and construction industry is an integral part of the economy and plays an important role in the development of the country’s infrastructure base and is one of the largest generators of economic activity.”The report was released by Girija Vyas the Minister of Housing and Urban Poverty Alleviation at the Confederation of Real Estate Developers’ Associations of India (CREDAI) flagship event Natcon 2013 inauguration in Moscow.By 2025 the real estate sector is expected to generate at least 17 million jobs. Its prospects for growth and development are tremendous and at present the real estate sector has an estimated supply pipeline of about 3.6 billion sq ft that will be delivered in 2013. About 98% of these are from the residential segment. It is this pipeline that will provide 7.6 million jobs in 2013 and generate revenues worth around Rs 370,000 crore. Rs 254,000 crore will be the amount of investments required.CREDAI Chairman Lalit Jain commented on the report to say, “The report portrays the conservative status of the sector’s contribution. For the first time a detailed attempt has been made to give facts on its importance in terms of GDP, industrial production employment opportunities.”The sector seems promising but faces a lot of challenges in the form of shortness of institutional funding, high borrowing rates, long stretched approval process etc.The report lists some recommendations that the can help the sector in its growth and overcome the challenges. These recommendations include measures like reforming the approval process, authorizing new real estate lending sources, endorsing private sector participation etc. \u0437\u0430\u0439\u043c \u043d\u0430 \u043a\u0430\u0440\u0442\u0443 \u0431\u0435\u0437 \u043e\u0442\u043a\u0430\u0437\u043e\u0432 \u043a\u0440\u0443\u0433\u043b\u043e\u0441\u0443\u0442\u043e\u0447\u043d\u043e<\/a>\u0432\u0437\u044f\u0442\u044c \u043a\u0440\u0435\u0434\u0438\u0442 \u043e\u043d\u043b\u0430\u0439\u043d<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

New Delhi: It was already known that the real estate industry is the second largest employer in India, after agriculture. A report by global property consultants CBRE Group showed that India’s real estate sector contributed to 6.3% of the country’s GDP in 2013. 7.6 million jobs have been generated by the sector in 2013.The report […]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-21726","post","type-post","status-publish","format-standard","hentry","category-realty-news"],"blocksy_meta":[],"yoast_head":"\nReal Estate Attributed for 6.3% of India's GDP -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bharatestates.com\/blog\/21726-real-estate-attributed-for-6-3-of-indias-gdp\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Real Estate Attributed for 6.3% of India's GDP -\" \/>\n<meta property=\"og:description\" content=\"New Delhi: It was already known that the real estate industry is the second largest employer in India, after agriculture. A report by global property consultants CBRE Group showed that India’s real estate sector contributed to 6.3% of the country’s GDP in 2013. 7.6 million jobs have been generated by the sector in 2013.The report […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.bharatestates.com\/blog\/21726-real-estate-attributed-for-6-3-of-indias-gdp\/\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/gayatri.subramanian\" \/>\n<meta property=\"article:published_time\" content=\"2013-07-29T06:10:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-06-14T22:21:31+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.bharatestates.com\/blog\/wp-content\/uploads\/2013\/07\/RE-GDP.jpg\" \/>\n<meta name=\"author\" content=\"gayatri\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"gayatri\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta 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