The Modi effect on housing sales Constructionweekonline.in
The Indian residential real estate market has greatly benefited from several reforms by the Modi-led government, helping the industry to not only to emerge stronger but also to scale new heights. A new report ‘Real Estate Unboxed: The Modi Effect’ by Anarock and Naredco showcases a housing landscape that is ripe with potential for evolving growth opportunities.
Niranjan Hiranandani, chairman, NAREDCO, says, “In light of the Indian government’s reforms over the last decade, Naredco and Anarock collaborated to assess the Indian real estate sector’s growth. Over the last decade, India’s economy has impressively leapfrogged to the 5th position on the global economic performance ladder. The Indian economy has maintained its status as the fastest-growing major economy for three consecutive years, a beacon of hope in a contractionary global economic climate. A market size of US$ 1 trillion is expected by 2030, up from $200 billion in 2021. This market size is expected to contribute 13% to India’s GDP by 2025, making the sector a pivotal contributor to economic development, employment, and government finances.”
