Indian real estate market witnesses a robust expansion in both value and volume
India’s real estate sector is poised to become the largest employment-generating hub in the country, trailing only the agriculture sector as the second-largest employer. With a remarkable compound annual growth rate (CAGR) of 18.7%, the industry is experiencing significant growth and is attracting young talent, according to industry leaders speaking at a recent seminar.
The Indian real estate market is witnessing a robust expansion in both value and volume, supported by a comprehensive value chain that includes residential and commercial developers, contractors, architects, engineers, and investors.
This growth is not only creating direct employment opportunities but is also invigorating ancillary sectors, further enhancing India’s economic landscape.
Vikas Jain, President-Elect of NAREDCO Maharashtra Next-Gen, emphasized the sector’s potential, stating, “This ‘mother industry’ is driving growth across various ancillary sectors. Additionally, the emergence of new-age PropTech startups, which have attracted over Rs.40,000 crore in investments, positions the real estate sector to create a multitude of career opportunities.”
Rajesh Doshi, Secretary of NAREDCO Maharashtra, noted that the scope of careers in real estate has broadened significantly. “Real estate is now a field for smart, driven individuals who can transform possibilities into opportunities. The integration of technology, big data, and 3D modeling is increasing the demand for skilled professionals, such as data scientists, to analyze industry trends and dynamics,” he explained.
A recent Knight Frank–NAREDCO report further supports this optimistic outlook, indicating that the sentiment in the real estate market remains favorable. Although the ‘Current Sentiment Index Score’ has slightly moderated to 65 from an all-time high of 73 recorded in Q1 2024, it still reflects a positive outlook among stakeholders.
As India’s real estate sector continues to flourish, it is set to play a pivotal role in shaping the country’s employment landscape, further solidifying India’s leadership in the global economy. With continued investments and innovation, the sector is well on its way to becoming a cornerstone of employment generation and economic growth in India.
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Not a good sign. Exploiting mother earth ? with NO trees or greenery, birds unseen in last 10-15 years, NOT even sparrows or crows, my time could see parrots, woodpeckers daily on our backyard trees.