INSIGHT | INSPIRATION | DEMAND DRIVERS
The Realty Business sector is a very important & critical sector of our economy. It has a huge multiplier effect on the economy and therefore, is a big driver of economic growth. It is the second-largest employment-generating sector after agriculture. Growing at a rate of about 20% per annum, this sector has been contributing about 5-6% to India's GDP. Not only does it generate a high level of direct employment, but also stimulates the demand in over 250 ancillary industries such as cement, steel, paint, brick, building materials, consumer durables and so on. With huge sector, comes huge responsibilities & being a part of this sector we are aware of that.
With around 1.4 billion people, India is the second most populous country after China and it is expected to overtake it by 2030. Its economic transformation over the past decade has pushed up real GDP growth to an average of 6 per cent per annum since 1992. India is emerging as an important business location, particularly in the services sector. Its favourable demographics and strong economic growth make the country an attractive place for property investors, given that demand for property is determined chiefly by business development and demographic trends.
In recent years, the Realty Business sector in India has exhibited a trend towards greater organisation and transparency, accompanied by various regulatory reforms by our Government of India. These trends have benefited from the substantial recent growth in the Indian economy, which has stimulated demand for land and developed Realty Business industry. Demand for residential, commercial and retail Realty business is rising throughout India, accompanied by increased demand for hotel accommodation and improved infrastructure. Additionally, the tax and other benefits applicable to these are expected to result in a new source of Realty demand.
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