The real estate sector is the most recognized worldwide. Real estate means selling, buying, or renting land or buildings. It has four sub-sectors. i.e. housing, retail, commercial, and hospitality. The real estate sector is growing very well by the growth of the corporate environment and the demand for urban and semi-urban accommodation as well as office space. The construction sector ranks third among the fourteen main sectors of the Indian economy.
In India, real estate place the second highest employment-generating sector, and the first is the agriculture sector. In the real estate sector, more NRIs are expected to invest in the short-term and long-term. Bangalore is the most favored property investment for NRIs.
Indian real estate growth high in recent days. Land values are increasing daily because of the demand for offices and residential spaces. The government of India and all state governments have taken many initiative steps to encourage and develop the real estate sector.
The Indian government has started an intelligent city project to build 100 smart cities in India. This is a big opportunity for real estate companies. SEBI approved a real estate trust platform, which allows all types of investors will invest in the Indian real estate market.
The offices and residential sectors are also expected to grow, with the Indian government aiming to build twenty million houses in urban areas across the country, under the scheme of Pradana Mantri Awas Yojana. The growing flow of FDI in Indian real estate is encouraging transparently increased. Indian real estate is expected to reach a substantial amount of FDI in the next two years, with a US $8 billion capital infusion by 2022. The real estate sector in India is expected to reach a US $1 trillion in market size by 2030.
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