Real Estate - #SectorUpdates
Real estate sector is one of the most globally recognized sectors which comprises of four sub sectors namely, housing, retail, hospitality, and commercial. In India, this sector is the second highest employment generating sector after agriculture. It is expected that the sector will incur NRI investment in both short and long run. The market size of real estate industry was found to be $180 billion in 2020 and is expected to grow up to $ 650 billion by end of 2025. Moreover, the sector currently contributes 6% to 7% in country’s GDP and is expected to contribute 13% to country’s GDP by end of 2025.India’s real estate sector has witnessed immense growth over the years due to infrastructure development in the form of residential, office spaces, commercial real estate, retail growth and factory spaces. Despite the economic deceleration caused by COVID – 19, Q2 2022 proved to be a strong quarter for the Indian real estate industry in Q2 2022 during which capital inflows stood at USD 2 billion, raised by 47% over Q1 2022.