firstpost.com-Path to a $7 tn economy: Why real estate has a crucial role to play
India’s real estate (RE) sector has long been one of the key drivers of economic growth, contributing 7 per cent to the nation’s GDP. The sector’s performance in 2024 has been strong with both residential and commercial RE segments showing notable growth. For instance, India’s housing market has seen a 60 per cent growth since 2019, with premium housing driving much of this demand. Consumers today are interested in comprehensive townships offering community-focused living, sustainable developments and advanced tech-enabled amenities like AI-driven security systems and automated solutions.
Similarly, the commercial RE segment is also showing strong growth. With Global Capability Centres (GCCs) on the rise, steady hiring trends and the return-to-office culture, demand for flexible and tech-enabled office spaces is soaring. These trends, combined with India’s expanding IT and services sector, are making commercial RE a lucrative investment avenue.
For India to achieve the desired pace of economic growth, it will be crucial to further enhance the RE sector by providing strategic incentives and resolving underlying complexities. The upcoming Union Budget 2025 offers an opportunity to introduce targeted measures that can sustain and further grow this momentum.
