Fu­ture of In­dia's Real Es­tate: De­ci­pher­ing the Mid-term Per­spec­tive

FICCI Business Digest - - Briefings -

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.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.