Policy reforms driving growth in India’s commercial real estate sector etinsights.et-edge.com
Real estate is a key growth driver for any economy, and the growth of the office asset class has been fuelled by India’s consistent economic expansion. It is estimated that by 2030, India is poised to emerge as the world’s third-largest real estate market with a total value of USD 1 trillion, accounting for roughly 18-20% of the country’s GDP according to a joint report prepared by NAREDCO and EY. Commercial real estate in particular has witnessed robust growth in recent years, fuelled by rapid urbanization, infrastructure development, a thriving economy, and population growth. Beyond these factors, the role of policy interventions in creating a conducive environment for the sector’s growth can scarcely be understated. Let us turn our attention to a few of the key policies that have catalysed commercial real estate.
