The Indian real estate sector is a dynamic and vital component of the country's economy. It encompasses the development, purchase, sale, and management of properties, including residential, commercial, and industrial spaces.
Over the years, the sector has experienced significant growth and transformation, influenced by factors such as population dynamics, urbanization, economic trends, and policy changes. With its potential to contribute to economic development, provide housing solutions, and attract investment, the Indian real estate sector plays a crucial role in shaping the nation's urban landscape and overall prosperity.
In 2021, the size of the Indian property market was $200 billion, and there is a projection that it will achieve $1 trillion by 2030. Furthermore, the real estate sector is anticipated to contribute 13 percent to the total GDP of the country by 2025.
As stated by Ravi Kewalramani, a real estate broker,
He has more than 35 years of experience and a substantial online following, and the outlook for India's real estate future appears promising. He attributes this positive perspective to the expanding population and rising consumption rates within the nation.
Kewalramani observes that specific regions within Mumbai, notably along the central line encompassing Kanjur Marg, Vikhroli, and Bhandup, provide options for affordable housing. Recent statistics reveal that approximately 70 percent of property transactions in this central line are due to its accessible price ranges. Within this area, one-bedroom apartments are priced from Rs 80 lakhs to 90 lakhs, while two-bedroom alternatives extend to Rs 1.5 crore, presenting appealing possibilities for potential buyers.
Another encouraging region for real estate investment and homeownership lies within the western corridor, which includes locations like Borivali, Kandivali, and Dahisar, and extends up to Virar. Ongoing infrastructural advancements along this stretch render it an attractive choice for those interested in investing in the real estate market.
As the Indian real estate scenario continues its evolution, it offers ample opportunities for expansion and investment. The sector is poised to have a significant impact on the country’s economic development by contributing to its GDP and furnishing housing solutions for its growing population.
In summary, the future of India’s real estate sector shines brightly, driven by the demographics of the country and the rising demand for affordable housing.
