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industrial and warehousing are expected to strengthen in 2022.

By Animesh Deb and Venkatachari Jagannathan


After facing a body blow due to pandemic, the real estate sector seems to have come out of the woods lately and the growth momentum in the realty space is expected to continue in 2022. Among various segments, residential space saw a huge uptick in 2021.

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LG Sinha described the event as a historic milestone in J&K's real estate sector.

By Ahmed Ali Fayyaz


Involving an investment of Rs 18,300 crore, in housing, commercial infrastructure and film sectors in Jammu and Kashmir, as many as 39 Memorandums of Understanding (MoUs) were signed on Monday in the Union Territory's winter capital of Jammu.

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IANS

By Pankaj Bansal

According to a report released in August by the Indian Real Estate Industry, the real estate market is all set to reach a market size of $1 trillion by 2030, and will contribute 13 per cent to the GDP by 2025. The report also predicts the market growth to go up to $9.30 billion (about Rs 65,000 crore) by 2040. As per the Department of Promotion of Industry and Internal Trade Policy (DPIIT), the real estate sector is also the third largest sector in terms of FDI flow, it is second largest employment generator, and third largest sector to induce economic growth.

The sector that deals with housing, retain, hospitality and commercial is expanding with multi-fold increase in demand and growth in mandate from urban and semi-urban accommodations. Real estate is ranked third among the 14 major sectors in terms of direct and indirect or induced impact on all the sectors of the economy. The real estate sector is also the second largest sector in terms of employment generation, only after agriculture. It works in short term employment generation as well as long term.

The question is, what is driving the real estate sector in India so aggressively?

Is it the change in the need and mindset of the society for long term investment or it is that the government has decided to relax norms and policies to attract investment in real estate? The answer should be both. In July this year, the Securities and Exchange Board of India (SEBI) had lowered the minimum application value of Real Estate Investment Trusts from Rs 50,000 to Rs 10,000–15,000 to make the market accessible to small and retail investors. Even the co-living market in the top 30 cities, primarily metros, is set to grow almost double -- to about $14 billion from the current size of $6.70 billion.

aerial view of city during daytime Board of India (SEBI) had lowered the minimum application value of Real Estate Investment Trusts from Rs 50,000 to Rs 10,000–15,000 to make the market accessible to small and retail investors. | Photo by CHUTTERSNAP on Unsplash

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The Reserve Bank of India employed a liberal approach and reduced the benchmark Repo rates on multiple occasions during the last two years.

Owning a house is one of the life goals of many people. If you are willing to buy your dream house, it's time to make the move as the housing prices have seen optimal correction and are unlikely to fall further. "In fact, all-time low-interest rates, government impetus to housing for all, ample ready supply and attractive offers by the developers have made it an opportune time to buy a dream home," suggests Ankit Goel, Director, Goel Ganga Developments. He shares a few factors cementing the fact that now is the best time to buy a property.

Reduced home loan interest rates

Owing to the pandemic, the Reserve Bank of India (RBI) employed a liberal approach and reduced the benchmark Repo rates on multiple occasions during the last two years. This resulted in a sub-seven percent regime of home loan interest rates. A year ago, the home loan rates were falling in the range of 8-9 percent. Now, the rates have reduced to seven percent or even below it. It results in a significant cost saving in the Equated Monthly Installments (EMIs).

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