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Indian Real Estate Sector Set to Reach Market Size of US$180bn by 2020: CREDAI-JLL

Kolkata, Mar 14 (UNI) CREDAI in association with their knowledge partner JLL, India’s
largest real estate service firm on Wednesday jointly unveiled a report titled ‘Traversing
through the epic, predicting the curve at CREDAI Conclave in New Delhi.
The report, that traces 7 trends that will change the way real estate business will
happenin the future in India, highlights that the Indian Real Estate Sector is projected
to reach a market size of $180bn by 2020, a sharp rise from $126bn in 2015, a
spokesperson of CREDAI-JLL said in a statement here.
The report also reveals that the housing sector’s contribution to the Indian GDP is expected
to almost double to more than 11 per cent by 2020 up from estimated 5-6 per cent. Regulatory reforms, steady demand generated through rapid urbanization, rising household income and
the emergence of Affordable Housing and nuclear housing are some of the key drivers of
growth for the sector.
According to the report, the ‘architects of changes’ in the form of various revolutionary
policies and reforms have paved the way for a highly conducive environment for industry stakeholders which has weaved a new and improved environment for Indian realty, with
certain policy based implications expected in the future.
CEO and Country Head, JLL India Ramesh Nair said “The time for change in now, which is evident in the recent developments. Game changing developments like RERA and GST have created a strong base for the sector to grow, which coupled with India’s strong economic advancement have provided a perfect spring board."
"Our report ‘Traversing through the epic, predicting the curve’ is focused on providing a
sneak peek at the future of the sector, identifying 7 trends as mentioned,” he said.
CREDAI Chairman Getamber Anand, shares his opinion “CREDAI National has consistently maintained its stance of looking ahead into the future and we continue this trend with the
unveiling of the CREDAI – JLL report titled ‘Traversing through the epic, predicting the curve’."
"The report looks forward in regards to the revolutionary reforms and policy changes that
have and will still continue to have a substantial bearing on proceedings. The report reveals
some exciting findings pertaining to the growth of the real estate sector which is ought to
encourage all industry stakeholders,” Mr Anand said.
CREDAI president Jaxay Shah, Comments, “As a leading industry body, CREDAI National
fully comprehends the prevalent and upcoming industry trends which are bound to have
significant implications for Indian realty. Having displayed extreme resilience throughout the
course of the past 18 months, the Indian real estate sector is now quite evidently on an
upward trajectory backed by the efforts of industry stakeholders and the Union Government."
"The CREDAI – JLL report ‘Predicting the Curve’ happens to be extremely enlightening and
speaks in length of the new era of the Indian real estate sector,” he added.
UNI BM
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