Future of India's Real Estate: Deciphering the Mid-term Perspective
FICCI and JLL released a report titled 'Future of India Real Estate: Deciphering the Mid-term Perspective' at the 12th edition of FICCI Real Estate Summit in Mumbai on 5 September 2018. The report analyses the drivers and challenges facing the sector in the next 2 to 3 years.
The rapid urbanisation is expected to offer significant opportunities for real estate and infrastructure development in Indian cities. This sector has witnessed high growth in recent times with the rise in demand for office as well as residential spaces.
Sanjay Dutt, Chairman FICCI Real Estate Committee, said, 'The sector has been through a bumpy ride in the last couple of years, but the environment is changing and the sector is back in the spotlight with key indicators pointing at the revival of Indian real estate. Key regulatory reforms such as RERA (Real Estate Regulatory Authority) and REITs (Real Estate Investment Trust) have given a new lease to the sector, and investors and end users are regaining confidence towards the recovery trends in the industry. Logistics & warehousing, commercial & retail are witnessing surge in demand and absorption. Overall trends are moving in the right direction for the Indian real estate sector.'
The extent to which the real estate sector has grown can be gauged from investments in 'under construction' projects within investment grade real estate. India has moved up 30 ranks to the 100th position on the World Bank's scale of countries in Ease of Doing Business for 2018.
Sanjay Dutt, Chairman FICCI Real Estate Committee, addressing the Summit.