IITM Journal of management and IT
Year : 2013, Volume : 4, Issue : 2
First page : ( 15) Last page : ( 21)
Print ISSN : 0976-8629. Online ISSN : 2349-9826.

Real Estate Sector in India: Retrospects and Prospects

Barthwal Tripti*, Singh Shailly**

*LBSIMDS, Lucknow

**NIU, Noida

Online published on 27 July, 2015.

Abstract

The Indian real estate sector has a huge multiplier effect on the economy and therefore it is a big driver of economic growth. Estimates show that for every rupee that is invested in housing & construction, 0.78 paise gets added to the GDP. Traditionally, the real estate sector in India was dominated by a number of small regional players with relatively low level of expertise and many times financial resources. The scenario changed for the better after liberalization. The real estate industry in India has been on a roller coaster ride since 2005. The industry achieved new heights during 2007 and early 2008, characterized by a growth in demand, substantial development and increased foreign investments. However, by mid 2008, the effects of the global economic slowdown were evident here too, and the industry took a ‘U’ turn. 2009- 10 witnessed substantial slowdown along with part recovery. 2011–14 is & will remain a consolidation phase after slowdown & demand is expected to rise continuously. The present paper traces the past of the India Real Estate Sector, describes its present status & focuses on the challenges it is facing. Then it discusses the ways by which these challenges can be overcome & the future prospects of this sector.

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Keywords

Real Estate, Economy, GDP, FDI, Infrastructure.

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