New data published on the Real Estate Companies’ website reveals that real estate projects in India are growing at a faster pace than the Indian economy.
Real estate projects accounted for over 4.4 million new homes in India as of the end of March, according to the data.
India is on track to have the world’s largest real estate market in 2020.
The sector has been growing at the fastest pace since March of last year, according the data, with the average sales price per sq ft increasing by over $20 in a year.
Real estate projects are also growing at an exponential rate, with an average project size increasing from $3.3 million in the second quarter of 2020 to $7.7 million in Q1 2021.
Real Estate Developers and Owners in IndiaRevenues in the Indian real estate sector are up by over Rs.4 lakh crore for the first quarter of 2021.
This is nearly five times as much as the $2.4 trillion that is expected to be generated from the real estate markets in the next five years.
In addition to the growth of the real property market, real estate developers and owners are also experiencing an explosive growth in the growth in their companies.
This has been driven by the increase in the number of units that are being completed.
In the first nine months of 2021, nearly 17,500 new apartments were completed, up by more than 50 per cent over the same period last year.
In the last nine months, the number has gone up by almost a third, with nearly 9,000 units completed in the first half of 2021 compared to 7,300 units completed for the same time in 2020, according a study conducted by the real-estate company IASI in July.
The growth in development activity has been fuelled by the introduction of GST in the country in July last year and the introduction and extension of real estate tax concessions.
The IASi report also said that India’s real estate firms are expecting a further boost in business in the current financial year.
The rapid growth of new construction has been accompanied by an increase in number of apartments and condominiums.
This growth is attributed to the increasing number of condominium owners, as well as a growing number of people looking for a place to live, according TOI.
According to data compiled by the Real estate Development Board of India (REB), the realty industry in the nation is expected grow by more over 2.8 lakh units annually between 2020 and 2021.
Real Estate Companies in India, an organization of realty companies, has been actively working on development strategies in India.
The real estate development board has recently been tasked with monitoring developments and policies affecting the real industry in several cities in the city.