RERA, PMAY, SWAMIH changed the face of real estate in India under Modi govt, says report cnbctv18.com
In a decade marked by reforms and economic shifts, India's real estate sector has emerged as a powerhouse, contributing significantly to the nation's growth trajectory. A recent report by the real estate industry offers insights into the sector's evolution under the Modi government, highlighting its challenges, reforms, and future prospects.
The report underscores the sector's exponential growth, with its value estimated at around $120 billion in 2017 and projected to skyrocket to a staggering $1 trillion by 2030. This growth trajectory is coupled with the sector's substantial contribution to India's GDP. The report finds that housing inventory overhang has seen a significant drop over the last 10 years. The pan-India housing inventory overhang stood at 15 months at the end of 2023, displaying a positive decline from 41 months in 2017, when available inventory was at its peak.
