Indian Real Estate Market is coming out of Covid crisis steadily
The Indian real estate market is showing signs of steady recovery with both residential and commercial property segments registering robust performance in the July-September quarter. With the tempo of vaccination drives going high in the country, the real estate market is growing proportionately. Record-low home loan interest rates and sops offered by realty developers helped top Indian real estate markets move higher after a dull April-June quarter marked by the pandemic’s resurgence and restrictions imposed by various state governments.
Commercial real estate market to rise high with the back-to-office trend
As the country is opening up after 1.5 years of on and off lockdown, the number of people going back to the offices is increasing. Experts believe that this can shift the upsurge of the real estate market from residential properties to the commercial real estate segment. Most of the real estate companies tend to have a mixed basket and the movement of the entire real estate basket has been very coordinated. As people go back to the office, the occupancies will grow and new business start-ups in India are also quite strong, which strongly indicate the growth of commercial real estate in near future.
The real estate sector is likely to go as high as 1$ trillion by 2030, says expert
Amitabh Kant, CEO of Niti Aayog, said in a virtual event organized by industry body CII that the real estate sector is expected to reach a market size of USD 1 trillion by 2030, accounting for 18-20 per cent of India’s GDP. Kant further said the Securities and Exchange Board of India (Sebi) has already given its approval for Real Estate Investment Trusts (REITs), which will create an opportunity worth Rs 1.25 lakh crore in the coming years.