• 05 Jul, 2023

• Architecture

• By Srinivas Konda

Indian Market Size

The real estate industry in India is expected to reach INR 65.10 trillion by 2030 from INR 12.75 trillion in 2020. The Industry is expected to grow at a CAGR of 17.72% between 2020 and 2030.

Competitive Landscape

Although the real estate industry in India is becoming more regulated over the past few years, the major portion of the space is occupied by unorganised players. However, some of the major players contributing to the organised market are; Macrotech Developers or most popularly known as the Lodha Group dominates the organised market witnessing a revenue of INR 42.9 billion in 2020-21. Followed by Prestige Estates Projects with revenue of INR 40.5 billion in the same year. While India's oldest real estate developer DLF clocked a revenue of INR 28.9 billion in 2020-21 and in the same financial year Sobha builders witnessed INR 20.9 billion as revenue. Other players include IndiaBulls, Godrej Properties, Oberoi Realty, Jaypee Infratech and Unitech.

Favourable Government Initiatives & Policy

• The Government of India launched Pradhan Mantri Awas Yojana to provide affordable housing to all lower and economically weaker sections of the society.
• Real Estate Regulation & Development Act (RERA) was introduced in 2016 to bring transparency in transactions within industry and to protect the interest of consumers.
• Smart City Mission initiative was launched to develop and improve the quality of people by tapping into the latest technology and smart solutions.
• Real Estate Invest Trust was established to allow safe investments in the real estate sector in the country.

Increase in Disposable Income

The demand in the real estate industry in India is majorly driven by the rising disposable income of the people. As their income increases they are able to spend more, especially on residential housing.