By 2047, The Indian Real Estate Market Is Set For Remarkable Growth
Indian Real Estate Market- According to a recent report by the National Real Estate Development Council (NAREDCO), by the time India celebrates its 100th anniversary of independence in 2047, the real estate market will have grown to a startling $5.8 trillion. The current projected worth of $477 billion has significantly increased because to this exceptional rise.
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Increased Economic Output
The paper claims that India’s economic production will increase greatly as a result of this massive real estate sector boom. It is anticipate that by 2047. It will represent an astonishing 15.5% of the nation’s economic output, up from the 7.3% it does today.
An Increase in Private Equity Investments
The research also emphasizes the steady rise in private equity investments over the past 20 years in India’s real estate market. According to projections, these investments will likely total $5.6 billion by 2023, growing by 5.3% year. These investments are anticipate to grow to $54.3 billion by 2047. A 9.5% compound annual growth rate from 2023 to 2047.
Real Estate Boom in Residential and Office
The residential sector is expect to experience significant growth among the real estate segments. According to the report, India would need to build almost 230 million housing units over the following 25 years. In 2047, the residential market has the potential to produce an output of $3.5 trillion. The demand for affordable housing is anticipated to shift to mid-segment & luxury housing categories in 2047, with the percentage of lower-income households declining from 43% to 9%.
Additionally, with a projected $473 billion in output in 2047. The office real estate market is expect to experience exceptional development. According to the analysis, there would be a huge increase in office space across the top eight Indian cities from 278 million square feet in 2008 to 898 million square feet in 2022.
Transformation in India’s Economy
In the next 25 years, India’s economy and real estate market are likely to undergo a drastic shift, as the paper highlights. This rise is expected to be fueled by a number of factors, including demographic advantages, improving business sentiment, government policies supporting high-value industries like manufacturing & infrastructure, and a sustained economic expansion.
This research highlights the real estate market in India as having potential growth opportunities. And a substantial impact on the economy of the nation.
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