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The market size of the Indian real estate sector is expected to reach $180 billion by 2020 with the housing sector contribution doubling to 11.2 per cent of GDP, said a report unveiled on Wednesday.
The report released by the Confederation of Real Estate Developers’ Associations of India (CREDAI) jointly with international real estate consultant JLL, said RERA, GST, FDI policy, affordable housing, real estate investment trust, technology and alternative asset classes are the major altering trends that would transform the Indian realty sector in the near future.
Game changing measures
Game changing developments like RERA and GST have created a strong base for the sector to grow.
The report is focused on providing a sneak peak into the future of the sector, identifying the emerging trends, said Ramesh Nair, CEO and Country Head, JLL India.
However, the experts felt that there are several issues that need to be immediately addressed with regard to affordable housing segment.
“Finance for the land, rationalisation of GST, single window clearance and clarification on the credit linked subsidy scheme (CLSS) are the four major issues that need to be looked into in the affordable housing segment,” said Jaxay Shah, President, CREDAI.
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